CA Along with 4 others held by Chandigarh Police for GST Fraud of Rs 11-cr

CA Along with 4 others held by Chandigarh Police for GST Fraud of Rs 11-cr Economic Offences Wing (EOW) Chandigarh has arrested Five people in connection with Goods and Service Tax (GST) Fraud of Rs 11 Cr. One of them is a Chartered Accountant. The accused have been identified as Ishwar Chand Garg of Burail; Yashpal Jindal, alias Bittu, a resident of Sector 37 Chandigarh; Vinay Jain, known as Vicky Jain, of New Delhi, who is an all scrap dealer, CA Sushil Singla of New Delhi, and Anuradha Sharma, a resident of Khuda Jassu, Chandigarh.

How did they operate?

• Suspects opened a fake firm in name of supplying scrap and prepared fake bills to avail of GST Input Tax Credit (ITC) from the government.
• A report in early 2019 claimed there was no business activity from the business premises at Chandigarh.
• Suspects made transactions for goods to the tune of Rs 21.68 cr and Rs 8 crore but didn’t deposit tax dues of Rs 11.5 cr

EWO registered this case in Dec 2019 and on Dec 3, 2022, a key suspect joined the probe, leading to arrests.