Delhi-based CA, two others arrested from Noida for Rs 50 crore GST evasion - GST NEWS

Times of India

Delhi-based CA, two others arrested from Noida for Rs 50 crore GST evasion - GST NEWS MEERUT: A Delhi-based chartered accountant (CA) and his two associates were arrested on late Monday night from their office in Noida Sector 63 for alleged evasion of Rs 50 crore Goods and Services Tax (GST). ALSO LIKE OUR FACEBOOK PAGE: https://www.facebook.com/latestgstnews/ On Tuesday, they were produced before special chief judicial magistrate court in Meerut, which sent them to jail. The accused were nabbed by sleuths of Ghaziabad-based regional unit of Director General of GST Intelligence (DGGI). They were booked under Section 132 (1) (A) of GST Act 2017, and were brought to Meerut headquarters the next day. According to Lakshay Kumar Singh, special public prosecutor, Customs, Excise and GST, “The accused are Akhilesh Sharma, a director in some bogus companies; Rahul Jain, an advocate, and Madhusudan Pandey, a Delhi-based chartered accountant. All three of them and around a dozen more were involved in fake billing of more than 20 companies.” According to officials, Pandey has confessed to crime and has said: “My partner Rahul Jain and I provided clients to Akhilesh Sharma for fake invoices. We all used to share the commission.” Explaining their modus operandi, an officer, who did not wish to be named, told TOI, “The accused, through these bogus companies which were actually registered with GST, issued tax invoices despite the fact that none of these companies dealt with or supplied any goods and services. “These fake invoices were sold to clients in need of such documents. This led to wrongful utilization of input tax credit.

                       source:- Times of India