Goods and Services Tax – GST Dated:- 5-3-2021 – News – 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 by profession. Both Shri Naresh Dhoundiyal and Shri Devender Kumar Goyal are former employees of Essel Group. Though they are presently not working with the Essel group officially, however, the
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companies. The total fake Input Tax Credit passed on by such fictitious intermediatory companies is quantified to be ₹ 92.18 crore whereas, the total fake Input Tax Credit passed on by other fictitious and non-existent firms pertaining to the larger network is quantified to be more than ₹ 300 crore. The syndicate has thus defrauded the Government exchequer of more than ₹ 392 crore by issuing bogus invoices of more that ₹ 3,000 crore without actual supply of any goods or services which is likely to increase as the investigation progresses. It is pertinent to mention that M/s Vertilink Media Solutions Private Limited has admitted the evasion and have voluntarily deposited ₹ 2.5 crore. Shri Naresh Dhoundiyal a
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