After the Gujarat connection in Rs 75,000 offshore income tax fraud; here is yet another tax fraud where Ahmedabad Directorate General of GST Intelligence (DGGI) officials are playing a central role. Goods and Services Tax raid at Kanpur-based businessman Piyush Jain unearthed ₹ 257 crore cash from his house and factory. The entire operation of this tax evasion is being carried out by the Additional DG of Gujarat Direct General of GST Intelligence. Vivek Prasad had received information that a perfume trader in Kanpur was involved in tax evasion. He immediately took note of its seriousness and raided Kanpur with the permission of the head office. However, during the raid, Vivek Prasad and his team found crores of rupees in cash. Upon receiving the cash, he informed the Income-tax department.
Interestingly, the Gujarat DGGI team, which went to investigate the tax evasion, found several anonymous assets along with crores of rupees in cash during the investigation. It is believed that this billionaire perfume trader from Kanpur may be brought to Gujarat soon.
More than 257 crore cash and a large quantity of gold and silver jewelery have been recovered so far in the raid. Several important documents have also been found along with it. Piyush Jain was arrested on Sunday after more than 50 hours of interrogation.
However, during the raid, Vivek Prasad and his team found crores of rupees in cash. Upon receiving the cash, he informed the Income-tax department.
In Kanpur, Piyush Jain travels on an old scooter. On paper, he is a small town perfume maker in Kannauj who hardly makes two ends meet. He learned the art of making perfumes and edible essences from his father, who is a chemist. There were two cars parked outside his house – a Qualis and a Maruti. After his arrest, Jain is expected to be taken to Ahmedabad for questioning. He actively does business in Gujarat and Mumbai.
The raids on Piyush Jain’s premises so far have included Rs 257 crore in cash, several kilos of gold, 16 valuable property documents including four in Kanpur, seven in Kannauj, two in Mumbai and one each in Delhi. According to information, Piyush Jain has also bought property in Dubai outside the country.
On Monday, the investigating agencies are working on the ancestral residence of Piyush Jain. It is believed that the counting of notes will continue till Monday evening, after which information on the total amount received by late night will come to light.