The Special Chief Judicial Magistrate (Economic Offences), Meerut, has remanded Financial Service Provider, Sagar Singhal and 2 CAs namely Aseem Goyal and Ayush Agarwal to 14 days of judicial custody in connection with a Rs. 150 crore GST fraud case.
The Directorate General of GST Intelligence (DGGI), Meerut, presented the accused — Sagar Singhal, a resident of Noida, Chartered Accountant Aseem Goyal, and Ayush Agarwal — before the court in Case No. 790/2025, registered under Sections 132(1)(b), 132(1)(c), and 132(1)(i) of the CGST Act, 2017. The matter was heard by Special CJM (Economic Offences) Naheed Sultan.
According to the prosecution, Sagar Singhal, through three main entities, orchestrated a large-scale fraud amounting to approximately ₹150 crore. He was associated with a firm providing financial services. In collaboration with CA Aseem Goyal and Ayush Agarwal, the accused allegedly availed fraudulent input tax credit (ITC) without supplying goods or rendering any services.
During the search operations at the business premises of the accused, DGGI officers found no evidence of actual business activities or service provision, reinforcing allegations that the transactions were fictitious and created solely to claim ITC.
Following their arrest by the DGGI, the accused were produced before the Honorable Special CJM Court, Meerut. Defence counsel Ashish Gupta argued that the arrests were unlawful and carried out without due GST procedural compliance. The prosecution, led by Lakshya Kumar Singh and his associate Ms. Vandana Singh, strongly opposed the bail plea, citing the severity of the offence and the substantial loss to the government exchequer.
The court, after considering the evidence and the magnitude of the alleged fraud, rejected alternative pleas for release and ordered the accused to be sent to District Jail, Meerut, until their next hearing on August 21, 2025.
Sections Invoked under CGST Act, 2017:
- Section 132(1)(b) – Issuing invoices or bills without supply of goods or services to wrongfully avail ITC.
- Section 132(1)(c) – Availing ITC based on fake invoices.
- Section 132(1)(i) – Offences involving tax evasion exceeding ₹5 crore, classified as cognizable and non-bailable.
This case marks one of the biggest GST fraud crackdowns in western Uttar Pradesh this year, underlining the government’s increasing vigilance against tax evasion networks.
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