The police have booked a garment manufacturer, his CA and four employees for Rs. 13.48 crore fraud in GST refund. The police have claimed that the accused had forged bills to execute the fraud.
As per media reports, the FIR has been lodged on the complaint of the principal commissioner, central goods and services tax commissionerate, against garment manufacturer Narinder Chug, accountant Satish Sharma, chartered accountant Ankur Garg, employee Ram Bilash Yadav and accomplices Rohit Kumar Gupta and Aman Saggar.
It is worth mentioning that Narinder Chug is a permanent invitee to Apparel Export Promotion Council (AEPC) and in 2016, he was recognised by AEPC with the prestigious award– Highest Global Exports by New Entrepreneur.
Reportedly, the complaint stated that the accused Narinder Chug owns at least 18 firms, including 12 in Punjab.
The accused submitted fictitious bills and got a GST refund. By doing this, the accused caused loss of Rs. 13.48 crore to the Government. Notably, the accused have helped Narinder Chug in preparing bogus bills to execute the fraud.
The local media quoted a police officer that an FIR has been lodged following a detailed inquiry by a senior official. The inquiry report suggested that these firms are involved in passing and availing of fake input tax credit without actual supply of goods and monetising the same by way of availing refunds.
The accused have also indulged in availing export benefits without meeting the export requirement. They have availed input-tax credit to the tune of Rs. 8.97 crore and its monetisation through GST refund amounting Rs. 4.80 crore, accounting Rs.13.87 crore.
He added that a case has been registered under Sections 420 (cheating), 465 (punishment for forgery), 467 (forgery of valuable security, will etc.), 468 (forgery for purpose of cheating), 471 (using as genuine a forged document) and 120-B (criminal conspiracy) of the Indian Penal Code.
