Lucknow: A day after a team of Directorate General of GST Intelligence (DGGIUnaccounted cash worth Rs 177 crore recovered from the residence of ), Ahmedabad, merchants of kanpur, Piyush JainThe authorities took him into custody for questioning on Saturday.
DGGI raids their premises KannaujIt started on Friday evening, which was continued till the final report came out.
Sources close to the investigation said that Piyush Jain was taken to a safe house and questioned for several hours. A set of questions have been prepared which will be asked to them.
He said that two other premises of Jain in Kannauj are also being searched where two of his sons were also seen.
A team of 50 tax officials, comprising units from UP and Gujarat (Ahmedabad), is involved in the search operation.
Another premises of Ranu Mishra, a perfume trader from Kannauj, is also being searched by the DGGI team.
Sources said Mishra evaded GST worth crores of rupees, which was revealed after a specific tip-off. So far, tax evasion of about Rs 3.09 crore has come to the fore, which was being done through shell companies.
Jain hails from Chuppatti in Kannauj and has a house, head office and showroom in Mumbai.
Simultaneous raids started in Kanpur, Mumbai and Gujarat at 11 am on Thursday.
Jain has around 40 companies, two of which are in West Asia. “She is primarily into the perfumery business in Kannauj, but has a showroom in Mumbai as well. Jain also took loans in the name of shell companies and made huge amount of foreign transactions.
“The documents are being scrutinized. Counting of currency notes is still going on with the help of SBI officials.
Explaining the methodology, an official said that several challans were made in the name of fake firms, which were less than Rs 50,000 for a full truck, to avoid generation of e-bills.
The official said the agency would confiscate the cash under section 67 of the CGST Act.
DGGI raids their premises KannaujIt started on Friday evening, which was continued till the final report came out.
Sources close to the investigation said that Piyush Jain was taken to a safe house and questioned for several hours. A set of questions have been prepared which will be asked to them.
He said that two other premises of Jain in Kannauj are also being searched where two of his sons were also seen.
A team of 50 tax officials, comprising units from UP and Gujarat (Ahmedabad), is involved in the search operation.
Another premises of Ranu Mishra, a perfume trader from Kannauj, is also being searched by the DGGI team.
Sources said Mishra evaded GST worth crores of rupees, which was revealed after a specific tip-off. So far, tax evasion of about Rs 3.09 crore has come to the fore, which was being done through shell companies.
Jain hails from Chuppatti in Kannauj and has a house, head office and showroom in Mumbai.
Simultaneous raids started in Kanpur, Mumbai and Gujarat at 11 am on Thursday.
Jain has around 40 companies, two of which are in West Asia. “She is primarily into the perfumery business in Kannauj, but has a showroom in Mumbai as well. Jain also took loans in the name of shell companies and made huge amount of foreign transactions.
“The documents are being scrutinized. Counting of currency notes is still going on with the help of SBI officials.
Explaining the methodology, an official said that several challans were made in the name of fake firms, which were less than Rs 50,000 for a full truck, to avoid generation of e-bills.
The official said the agency would confiscate the cash under section 67 of the CGST Act.
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