Quick Summary
In their continuous endeavour to uproot fake billing operations, officers of Central Goods and Services Tax (CGST) Commissionerate, Delhi (East) achieved yet another success when investigations led to unearthing of a massive network of fictitious firms to generate and avail fake Input Tax Credit (ITC) of Goods and Services Tax (GST). The network of fictitious companies was being operated by one Shri Naresh Dhoundiyal in connivance with one Shri Devender Kumar Goyal, who is a Charted Accountant b
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FAQ :
Naresh Dhoundiyal and Chartered Accountant Devender Kumar Goyal have been arrested by the CGST East Delhi Commissionerate.
The syndicate is estimated to have defrauded the government exchequer of more than £392 crore.
The fraud was conducted through a network of fictitious firms that generated and passed on fake Input Tax Credit (ITC) by issuing bogus invoices without any actual supply of goods or services.
The fake ITC was allegedly used to enable companies, including those in the Essel Group, to avail inadmissible GST credit, book expenses to evade Income Tax, and inflate turnover to boost share prices.
They are accused of hatching a criminal conspiracy and committing offences under Section 132(1)(b) and 132(1)(c) of the CGST Act, 2017, which relate to fraudulent issuance of invoices and wrongful availment of ITC.
Both Naresh Dhoundiyal and Devender Kumar Goyal have been remanded to 14 days of judicial custody.
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