CA booked for helping compnay in 60 Cr Fraud
Three persons including a charted accountant (CA) were arrested by the officials of Central Goods and Services Tax department for allegedly floating bogus companies to help other private firms evade tax, causing a revenue loss of Rs60 crore to the government.
The accused have been identified as Babulal Chaudhary 39, Dharmendra Pandey, 33, and Rajesh Sharma, 39 – all residents of Mira-Bhayander area.
According to sources, Chaudhary, the mastermind, would create a bogus company and generate bogus bills of payment received from certain real companies. These companies would show receipts of goods in their books of accounts and records maintained under CGST Act and avail input tax credit. Pandey, was one of those who operated the bogus companies, and issued invoices without any actual supply of material to the companies.
The payment for supplying of material to company was received through cheques or RTGS from the companies. Later, the entire money was withdrawn by accused and returned to real companies. Chaudhary would pay a monthly sum of 15000 to people to use their PAN card and Aadhar to operate their bank accounts. Sharma, the CA helped Chaudhary to file the periodical GST returns.
This is how the three accused and other wanted accused fraudulently passed on input tax credit to the tune of Rs 60 crores, “a source said. Probe revealed that Chaudhary would retain 5% of the entire fraud transaction.He had floated seven bogus companies for fraud. The accused were remanded in judicial custody.
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