Highlights
- Tax raids take place at establishments linked to businessman Piyush Jain of Kanpur
- “No arrests have taken place to date,” said CBIC Chairman
- Photos from the raid show two mountains of cash
New Delhi:
Vivek Johri, Chairman of the Central Commission for Indirect Taxes and Customs (CBIC), told the news agency. ANI on Friday.
“This is the biggest recovery in CBIC’s history. No arrests have taken place so far,” he said.
Photographs taken from the raid show two mountains of cash stuffed in two large cabinets. All bundles are wrapped in paperboard and secured with yellow tape. In each photo more than 30 such groups are visible.
Another photo shows officials from CBIC, the IT department and the Goods and Services Tax (GST) Intelligence unit squatting on a flower bed spread in the middle of the room surrounded by piles of cash and three machines count money.
#CLOCK | According to the Central Indirect Tax Commission and Customs Chairman Vivek Johri, around Rs 150 crores were seized during the raid, which is still being counted.
Image from businessman Piyush Jain’s residence in Kanpur. pic.twitter.com/u7aBTJhGxW
– ANI (@ANI) December 24, 2021
Raids on multiple facilities in Uttar Pradesh, Gujarat and Mumbai began on Thursday at a factory owned by M/s Trimurti Fragrances, which makes Shikhar-brand pan masala and medicinal products other fragrant leaves – in UP’s Kanpur.
Raids were also carried out at offices and resorts owned by a transport company – M/s Ganpati Road Carriers, also in Kanpur – after which action shifted to Piyush Jain’s premises.
“Based on input, the population base of partners of M/s Odochem Industries … who are supplying perfumery compounds … were also searched,” the agency said in a statement. GST said.
“During the search of the residential area, a large amount of cash wrapped in paper was found. A cash tally was initiated with the help of State Bank of India officials. (Kanpur.) This process may continue until (evening of) December 24th…” the announcement said.
“The total cash is expected to exceed Rs 150 crores,” it added.
GST officials said the amount was related to the shipment of goods through a forged invoice and not an electronic invoice from a freight carrier. These fake invoices are created in the name of imaginary companies.
These bills were worth Rs 50,000 each and more than 200 such invoices – generated without GST payment – were found in four trucks inside the merchant’s warehouse.
All four trucks were seized.
With input from ANI
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