In one of the biggest haul ever, the Goods and Services Tax (GST) authorities have recovered Rs 177.45 crore from multiple locations in Kanpur allegedly linked to Piyush Jain, a businessman who deals in pan masala and perfumes. The counting of cash that began a day ago ended in the wee hours of Saturday, making it the biggest cash recovery in the history of GST.
As many as 11 premises of three persons, including two partners of Kanpur businessman Piyush Jain, were searched on Thursday and Friday, sources in Directorate General of GST Intelligence (DGGI) said. The premises included factory outlets, offices, cold storages, and petrol pumps of perfume trader Piyush Jain and his partners. Around 19 note counting machines were sent back to SBI on Saturday after counting the cash for almost a day.
According to an official statement, the Directorate General of GST Intelligence in Ahmedabad received a tipoff based on which the search was conducted. Officials searched the factory premises of Trimurti Fragrance Pvt Ltd, which manufactures Shikhar Pan Masala and tobacco products, and the office and godowns of Ganpati Road Carriers, in Kanpur, the statement said.
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Earlier in July, the Income Tax (IT) department had seized Rs 163-crore cash and about 100-kg bullion at multiple premises of a road construction firm in Tamil Nadu. Another such case that shocked India was the 2012 raid at the offices and residential premises of a top businessman of Uttar Pradesh, Ponty Chadha, considered a leading figure in liquor and real estate businesses in the state.
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