Union Minister for Finance and Corporate Affairs Nirmala Sitharaman on Friday, appealed to chartered accountants to help the government to trace shell companies.
During an interaction at a programme organised by the Udupi district unit of the BJP to highlight nine years of achievements of the Union government led by the Prime Minister Narendra Modi she said, “Refunds on input tax running to thousand crores of rupees have been obtained by shell companies. From companies sitting in one room without even a table and chair. Such ‘ghost companies’ have obtained refunds for no buying and selling and for no commodity movement. There were only paper movements. And this we have started tightening by using artificial intelligence (AI).”
She said that CAs should join hands with the government to trace such ‘ghost companies.’
