Why CAs are afraid of doing certifications in India

Two Gurugram based CAs have been arrested in a Rs. 15 crore fraud has triggered a series of protests led by the Institution of Chartered Accountants of India (ICAI) against officials of the CGST office in the city.

The case is to claim of the input credit tax (ICT), allegedly made by fake companies. ICT is the tax that has already been paid at the time that the good or service was purchased. The amount is deducted from total payable tax and refunded.

Sunil Mahalawat and Gaurav Dhir have been accused of issuing audited account statements of fake companies to which ICT was claimed. The two CAs were also called on by the CGST office on Wednesday.

The two have been filed for cheating and fraud on the basis of the complaint filed at the Sector 40 police station in the city. They are currently in police custody.

The CA club of India is also running a Twitter poll by asking nationwide CAs by how should the certification be given to certain companies.