Chartered accountants apex body ICAI has initiated disciplinary action against 25 of its members for their alleged involvement in frauds related to GST.
Besides, ICAI President Atul Kumar Gupta on Wednesday said a “strong warning” has been given to such individuals not to indulge in such activities.
Authorities have been cracking down on fraudulent activities, including evasion, in relation to Goods and Services Tax (GST). In some cases, names of chartered accountants have also come up.
Against this backdrop, the Institute of Chartered Accountants of India (ICAI) has initiated disciplinary action.
The institute has initiated disciplinary action against 25 chartered accountants for their alleged involvement in frauds related to GST, Gupta told reporters.
In connection with GST frauds, he also said that it needs to be first ascertained whether individuals concerned are chartered accountants. In many cases, the institute has filed FIRs, he added.
There are more than three lakh members registered with the ICAI.