Credit fraud

DGGI arrests Delhi man for input tax credit fraud over 43 crore

The defendant, Ravinder Kumar (aka Ravinder Garg), had established the companies on false documents and was receiving the credit without the actual receipt or delivery of goods or services.

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“From the investigation to date it appears that Ravinder Kumar has established multi-owner businesses, partnership companies and limited liability companies based in Haryana, New Delhi and Jharkhand only on paper. Ravinder has continued to do so. evade the investigation and did not even appear before the investigating authorities. after the issuance of summons on several occasions, ”the finance ministry said.

He added that Ravinder was running away and kept changing locations.

“The agents were monitoring his dating and after a long period of control and active surveillance, were able to catch him. He admitted to setting up two limited companies, a general partnership and multi-owner companies which generated false invoices without goods. amounting to ??237.98 crore and transmitted fake ITCs amounting to more than ??43 crore, ”the ministry added.

The ministry concluded that Ravinder is the key person in orchestrating this racketeering of bogus business creation on false documents.

After his arrest, he was brought before the New Delhi Metropolitan Magistrate, who ordered 14 days in police custody.

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