MUSCAT : The initiative, which commenced on August 18, targets approximately 394 entities, including 117 in the border states of India, as well as 36 professionals. According to the Authority’s officials, the action is triggered by analysis of outward remittance statistics and by on-the-ground intelligence identifying transactions in which routine behaviour does not match the economic profiles of a significant number of entities.
The initial verification revealed that some entities did not submit taxes at all or reported very low turnovers while transferring large sums of money for freight, imported software, and consultancy services. The Authority is also looking into the professionals who issued Form 15CB for these transactions.
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