India

IT raid in Kanpur: More than Rs 150 crore cash recovered from businessman’s house, counting of money continues

KANPUR: Searches at several places related to Trimurti Sugandha in Kanpur have reported cash recovery of around Rs 150 crore and is the biggest run-off, Central Board of Indirect Taxes and Customs (CBIC) chairman Vivek Johri said on Friday. CBIC teams are currently counting cash at various premises of businessman Piyush Jain. According to media reports, Piyush Jain’s son Pratyush Jain has been taken into custody by the DGCI officials. ( kanpur raid )

also read: Proud Hindu Danish Kaneria fearful of persecution of minorities in Pakistan

This is the biggest recovery ever in history

Vivek Johri told ANI that we had received information that Trimurti Fragrance was working without challan or tax payment. We searched three of his entities and recovered around Rs 150 crore in cash. This is the biggest ever recovery in the history of CBIC. Explaining the details of the search, Johri said that the Ahmedabad unit of DGGI received intelligence that Pan Masala and Zee Company Trimurti Fragrances, a manufacturer of branded gutkha, were transporting the material without any challan and without paying tax. … started by the DGGI Ahmedabad team. Search Pan Masala manufacturers and their suppliers. A transporter from Unnao and a fragrance company were also searched as they were providing fragrance to the Pan Masala Company.

Invoice is more than a certain limit, then it is necessary to generate challan ( kanpur raid )

Johri also said that one of the parties involved has admitted the case of tax evasion and deposited Rs 3 crore for the same. As per the GST law, if the invoice exceeds a certain limit, it is necessary to generate the invoice. The jeweler said that during the search, DGGI found an item on which the rate of Goods and Services Tax (GST) was 28 per cent plus cess. Johri said that further investigation revealed that these people were sending the material without any challan and e-way bill. There are two or three sides involved. All the invoices we got were fake. The price of the item was suppressed. Fake invoices and fake credits have been reported… People involved were sending material without any invoice and e-way bill. All the invoices we received were fake. The value of the item was hidden. He informed. The CBIC chairman also informed that the counting of the seized cash is going on. ( kanpur raid )

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