MUMBAI: Maharashtra sales tax department has come across a disturbing trend in execution of private and public infrastructure projects in Mumbai. Probe by the department's economic intelligence wing found that a number of firms are artificially inflating their annual turnover figures with help of fake bills issued by hawala dealers.
To speed up development in Mumbai, big-ticket infrastructure projects are being taken up in both public and private sectors. A certain turnover is an entry-level criterion for companies to bid for big-ticket projects.
Intelligence wing has come across cases where firms falling short of requirement have used hawala route to inflate figures.
To speed up development in Mumbai, big-ticket infrastructure projects are being taken up in both public and private sectors. A certain turnover is an entry-level criterion for companies to bid for big-ticket projects.
Intelligence wing has come across cases where firms falling short of requirement have used hawala route to inflate figures.
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