Business

Big disclosure about GST fraud! Chirag Goyal did a fraud of Rs 134 crore

Those who evade GST are not well, the government will identify the source of tax evasion

Goods and Services Tax

The officials of the Central Goods and Services Tax (CGST) Commissionerate, Delhi East, after a detailed analysis, unearthed a network of fake exporters, with the intention of fraudulently claiming IGST refund, under Goods and Services Tax (GST) 134 They were using them to get the benefit of fake Input Tax Credit (ITC) worth Rs.

Based on the risk analysis, a risky exporter M/s Vibe Tradex was identified for investigation. M/s Vibe Tradex is engaged in export of Pan Masala, Chewing Tobacco, FMCG Items etc.

The network of fake exporters was being run by a man named Chirag Goyal, who is an MBA from the University of Sunderland, UK. After a comprehensive analysis of the e-way bills generated by two supplier firms/companies owned by his associate, who is absconding, it was found that the vehicles for which the e-way bill was generated for supply of goods , they were being used in remote cities of Gujarat, Maharashtra, Madhya Pradesh and never entered Delhi during the said period. During this, it came to know about availing and using fake input tax credit of Rs 134 crore.

Chirag Goyal hatched a deep conspiracy to defraud the government and committed the offenses specified under section 132(1)(c) of the CGST Act, 2017, which are cognizable and non-bailable. He has been remanded to judicial custody for a period of 14 days till 26.10.2021 by the Metropolitan Magistrate Patiala House Court, New Delhi. Further investigation is on in the matter.

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Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.

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Shehnaz Ali
Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.

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