DGGI concludes raids at businessman Peeyush Jain’s residence in UP’s Kannauj
The Directorate General of GST Intelligence (DGGI) on Wednesday concluded the raids at businessman Piyush Jain’s residence in Uttar Pradesh’s Kannauj. The Kanpur-based businessman was arrested on Sunday below Section 67 of the CGST Act after the restoration of unaccounted money, gold and sandalwood.
Commenting on the event, Zakir Hussain, Additional Director of DGGI mentioned, “We have concluded our ‘panchnama’. We have recovered gold, handed it over to DRI, but the probe is on. The gold which was recovered in Kanpur is separate…here, we recovered about Rs 19 crore cash. As per higher officials, this is the biggest cash recovery.”
Meanwhile, the DGGI which seized Rs 194.45 crores of money, 23 kg gold and 600 kg sandalwood from businessman Piyush Jain’s possession, on Monday knowledgeable that the accused has admitted that money recovered was associated to the sale of products with out fee of taxes.
The DGGI additional said that it has seized greater than 200 such pretend invoices.
“The statement of Piyush Jain has been recorded wherein he has accepted that the cash recovered from the residential premises is related to the sale of goods without payment of GST,” it mentioned.
“The evidence collected during the searches conducted in the last five days are being investigated thoroughly to unravel the tax evasion,” it added.
The accused has been despatched to 14 days of judicial custody by a Kanpur court docket within the matter.Â
(With inputs from ANI)
