Now Reading: Messi Kerala visit: Rs 200 cr in sponsor’s account, GST seeks source
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Messi Kerala visit: Rs 200 cr in sponsor’s account, GST seeks source
The investigation into the alleged fraud linked to the proposed visit of footballer Lionel Messi to Kerala has found over Rs 200 crore credited to the bank accounts of sponsor Anto Augustin…
The investigation into the alleged fraud linked to the proposed visit of footballer Lionel Messi to Kerala has found over Rs 200 crore credited to the bank accounts of sponsor Anto Augustin and Reporter Broadcasting Company. The money was deposited from two external accounts around the time the sponsor paid Rs 126 crore for the visit.
The GST department is expected to issue a notice to the sponsor seeking details of the funds' source. The investigation team found the amount was transferred to another account soon after it was credited. Although the sponsor claimed the money was a loan, no documents have been found to substantiate that claim.
Earlier, the sponsor had stated the match and stadium development were funded with his own money and that he had not received funds from anyone. The latest findings appear to contradict these claims, and the Special Investigation Team (SIT) has intensified its probe.
Indian Opinion Analysis
The scale of the suspicious transaction, over Rs 200 crore, dwarfs the Rs 126 crore the sponsor paid for the Messi event. Under GST law, any person receiving unexplained money or credit can be treated as a supplier of goods or services, making the entire amount taxable at 18% if the source is not proved. The SIT's focus will now be on tracing the two external accounts that funded the sponsor. The next step is likely a formal notice from GST authorities demanding proof of the loan agreement and source of funds, failing which a tax demand and penalty could follow.
Source: english.mathrubhumi.com
This story was synthesised by AI from the source linked above.
