Driving Naari Programme launched in Chandigarh
Kanpur: Kanpur-based businessman Piyush Jain, who was arrested on charges of tax evasion has been sent to 14 days of judicial custody by a local court on Monday.
The Ahmedabad unit of Directorate General of GST Intelligence (DGGI) booked Jain under Section 69 of the Central Goods and Services Tax (CGST) Act after recovering unaccounted of over Rs 284 crore of cash, along with 23 kilogram (kg) gold, 600 kg sandalwood during multiple searches.
The perfume industrialist is likely to be taken to Ahmedabad from Kanpur for further action, PTI reported quoting a government official.
The Directorate General of GST Intelligence has searched for the residential and factory premises of Odochem Industries at Kannauj. During the searches at Kannauj, the officers have recovered an amount of about Rs 17 crores in cash. In addition, recovery of approximately 23 kgs of gold and huge unaccounted raw materials used in the manufacture of perfumery compounds, including more than 600 kgs of sandalwood oil hidden in underground storage, having a market value of about Rs 6 crores, have been made.
The raid in the residential and factory premises of Odochem Industries is still underway, reported ANI.
Meanwhile, earlier today, DGGI had informed that the accused has admitted that cash recovered from his premises was related to the sale of goods without payment of taxes.
‘After intercepting four trucks operated by M/s Ganpati Road Carriers, carrying pan masala and tobacco of said brand cleared without payment of GST, the officers tallied the actual stock available in the factory with the stock recorded in the books and found the shortage of raw materials and finished products. This further corroborated that the manufacturer was indulging in the clandestine removal of goods with the help of a transporter who used to issue fake invoices to manage the transportation of said goods. The officers have also seized more than 200 such fake invoices. The manufacturers of Shikhar brand of pan masala/tobacco products have admitted and deposited an amount of Rs 3.09 crores towards their tax liability,’ the DGGI said in its release.
It said that evidences collected during the searches conducted in the last five days are being investigated thoroughly to unravel the tax evasion.
Notably, this is the biggest cash seizure in the history of the Central Board of Indirect Taxes and Customs, the apex body of the investigation agency Directorate General of GST Intelligence who is conducting the search.
