Business News | Man Arrested by DGGI Gurugram Officials for Input Tax Credit Fraud of Rs 16 Crore

New Delhi [India], April 11 (ANI): The Directorate General of GST Intelligence (DGGI) Gurugram Zonal Unit, has arrested a person "found to be involved in availing and passing fraudulent Input Tax Credit (ITC) of Rs 16.74 crore" without receipt of goods from different fake, suspended and non-existent firms, the Union Finance Ministry said on Monday.

The arrested person controls a series of entities as proprietor or director. The entities run by the arrested person are M/s Umang Overseas, M/s Ulagarsan Impex Put Ltd and M/s Umang Impex Private Limited.

Also Read | SRH vs GT Stat Highlights, IPL 2022: Sunrisers Hyderabad End Gujarat Titans’ Undefeated Run.

A search was conducted at various premises on April 4, 2022. "During the search, many pen drives, rubber stamps of different firms, documents/ records were resumed and the same are being investigated for estimation of duty evasion," the Finance Ministry release said.

The key person involved in availing and passing fraudulent ITC was arrested on April 5, 2022 and produced before the Chief Metropolitan Magistrate, Patiala House Court on the same day. Subsequently, the accused person was sent to judicial custody for 14 days.

Also Read | Samsung Galaxy S22 Ultra Green Colour Variant Goes Official in India; Check Prices, Features & Specifications.

"Further investigation in the matter is under progress," the release said. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)