DGGI Arrests One Person for Availing Fraudulent Input Tax Credit worth Rs.16 Crore

DGGI Arrests One Person for Availing Fraudulent Input Tax Credit worth Rs.16 Crore The Directorate General of GST Intelligence (DGGI) Gurugram Zonal Unit (GU), Gurugram, has unearthed a case in which a series of entities controlled by a person as Proprietor / Director of M/s Umang Overseas, M/s Ulagarsan Impex Put Ltd, and M/s Umang Impex Private Limited were found to be involved in fraudulently obtaining and passing fraudulent Input Tax Credit (ITC) of Rs 16.74 crore On 04.04.2022, a search was undertaken at numerous locations. Many pen drives, rubber stamps from various firms, documents/records were recovered during the search and are being investigated for possible duty evasion. On April 5, 2022, the principal person engaged in the issuance and passing of bogus ITCs was arrested and brought before the Chief Metropolitan Magistrate, Patiala House Court, where he was ordered held in judicial custody for 14 days. Further investigation in the matter is under progress.