DGGI Gurugram arrests one for ITC fraud of Rs 8 cr

New Delhi, Jan 8 : The Directorate General of GST Intelligence’s (DGGI) Gurugram Zonal Unit (GZU) on Friday arrested a Delhi businessman on charges of illegally availing and passing on input tax credit (ITC) on goods-less invoices.
On the basis of the investigation conducted, it was found that that Sanjay Goel, through his entity ‘Redamancy world’, showed purchase of lead ingots from non-existent concerns using fraudulent invoices not backed by concomitant supply of goods, as well as fake transporter records, said a Finance Ministry statement.
In this way, ‘Redamancy world’ had passed fraudulent ITC of over Rs 8.17 crore on invoices without accompanying goods to various end users.
The investigation spanned across multiple locations in Delhi-NCR area and based on documentary evidence and statements recorded, it was ascertained that Goel was a key player in the network of fake companies and transporters, said the statement.
Accordingly, Goel was arrested on Friday and produced before the Magistrate, who sent him to judicial custody.
Further investigations in the matter are under progress, the statement said.