Man held by DGGI officials for input tax credit fraud

New Delhi, March 11 : The Directorate General of GST Intelligence (DGGI) Gurugram Zonal Unit (GZU), Haryana, arrested Ravinder Kumar (aka Ravinder Garg), resident of New Delhi, on charges of creating and operating fictitious firms on forged documents.

According to the DGGI, these fictitious firms were used in availing of and passing on Input Tax Credit on bogus invoices without actual receipt and supply of goods or services.

The investigation into the matter revealed that the accused created multiple proprietorship, partnership firms and private limited companies based in Haryana, New Delhi and Jharkhand merely on paper. He also kept eluding the investigation and did not appear before the investigating authorities even after issuance of summons on multiple occasions.

DGGI said that Kumar was absconding and kept changing his locations, the officers kept watch on his frequent places and after a long period of monitoring and active surveillance, were able to nab him.

He admitted to have created two private limited companies, one partnership firm and multiple proprietorship firms which have generated sham invoices, without goods, amounting to Rs 237.98 crore and passed on fake ITC amounting to more than Rs 43 crore, the DGGI said.

The investigation spanned multiple locations in Delhi and Haryana and based on documentary evidence and statement recorded, it was established that Ravinder Kumar is the key person in orchestrating this racket of creating fake firms on forged documents.

Kumar was arrested on March 9 and produced before the Metropolitan Magistrate, New Delhi, who ordered 14 days judicial custody.

Further investigations in the matter are under progress.

Disclaimer: This story is auto-generated from IANS service.