The Institute of Chartered Accountants of India (ICAI) has confirmed that the person arrested for the evasion of Rs. 50 Crore of GST is not a Chartered Accountant or a member of the Institute.
In October this year, three persons including an Advocate arrested in Noida on Monday for allegedly evading Rs 50 crore of Goods and Services Tax (GST). It was reported that one of the other persons was a Chartered Accountant.
The three were arrested from their office in Noida Sector 63 and were produced before a special chief judicial magistrate court in Meerut. They were remanded to judicial custody after having been booked under 2017’s GST Act’s Section 132 (1).
Director General of GST Intelligence (DGGI) detectives from the Ghaziabad regional unit apprehended the accused and took them to the Meerut headquarters. As per Special Public Prosecutor Lakshay Kumar Singh, the accused were identified as Akhilesh Sharma, Advocate Rahul Jain, and CA Madhusudan Pandey. Sharma was reportedly appointed as a director in several bogus companies.
A statement issued by the ICAI clarified that “after comprehensive review of the aforesaid news-item, ICAI, being a regulator of the profession of Chartered Accountants had taken up the matter and verified its records and found that Madhusudan Pandey is not a Chartered Accountant as his name does not appear in the Register of members maintained by the ICAI.”
