dggi: UP: After Rs 177 crore recovery, DGGI detains Kanpur businessman | Kanpur News

LUCKNOW: A day after a team of Directorate General of GST Intelligence (DGGI), Ahmedabad, recovered unaccounted cash to the tune of Rs 177 crore from the residence of Kanpur businessman, Piyush Jain, the sleuths detained him for questioning on Saturday.
The DGGI raid on his premises in Kannauj, which began on Friday evening, was on till reports last came in.
Sources privy to the probe said Piyush Jain was taken to a safe house and questioned for several hours. A set of questions has been prepared which will be posed to him.
They said two other premises of Jain in Kannauj were also being searched where his two sons were also seen.
A team of 50 tax officials, comprising units from UP and Gujarat (Ahmedabad) are involved in search operations.
Another premises of a perfume trader from Kannauj, Ranu Mishra, is also being searched by the DGGI team.
Sources said Mishra evaded GST worth crores of rupees which was revealed following a specific tip-off. So far, tax evasion of about Rs 3.09 crore has come to light which was being done through shell companies.
Jain hails from Chhipatti in Kannauj and owns a house, head office and showroom in Mumbai.
Simultaneous raids had started in Kanpur, Mumbai and Gujarat at 11am on Thursday.
Jain owns around 40 companies, including two in West Asia. “He is mainly into the perfumery business in Kannauj but owns a showroom in Mumbai too. Jain also took loans in the name of shell companies and made huge foreign transactions,” a source said.
“Documents are being scrutinized. Counting of currency notes is still on with the help of SBI officials,” he added.
Explaining the modus operandi, an official said multiple invoices were generated in the name of fake firms, which were all under Rs 50,000 for one full truck, to avoid generation of e-bills.
The agency will seize cash under Section 67 of the CGST Act, the official said.

Source link

Leave a Reply