A Chartered Accountant (CA) and two of his associates on Monday night were arrested for allegedly evading Rs 50 crore of Goods and Services Tax (GST). The three were arrested from their office in Noida Sector 63 and were produced before a special chief judicial magistrate court in Meerut. They were remanded to judicial custody after having been booked under 2017’s GST Act’s Section 132 (1) A.
Director General of GST Intelligence (DGGI) detectives from the Ghaziabad regional unit apprehended the accused and took them to the Meerut headquarters. As per Special Public Prosecutor Lakshay Kumar Singh, the accused were identified as Akhilesh Sharma, Advocate Rahul Jain and CA Madhusudan Pandey. Sharma was reportedly appointed as a director in several bogus companies.
The accused along with a dozen others were involved in the fake billing of more than 20 firms reportedly. As per officials, Pandey confessed to having committed the crime and said that he and Jain used to provide clients to Sharma for fake invoices, in exchange of commission.
An officer, at the condition of anonymity, explained their modus operandi to TOI and said that via bogus companies registered with GST, the accused issued tax invoices for even those companies that did not supply or deal with any goods or services. These invoices were then sold to clients in need, leading to wrongful utilisation of input tax credit.
TOI
