In one of the biggest draws of all time, the Goods and Services Tax (GST) authorities recovered 177.45 crore rupees from several locations in Kanpur, allegedly linked to Piyush Jain, a man from business that sells pan masala and perfumes. The cash count that began a day ago ended in the wee hours of Saturday, making it the largest cash retrieval in GST history.
No less than 11 three-person premises, including two partners of Kanpur businessman Piyush Jain, were raided on Thursday and Friday, sources from the GST Intelligence Directorate (DGGI) said. The premises included factory outlets, offices, cold rooms and gas pumps for perfume merchant Piyush Jain and its partners. About 19 banknote counters were returned to SBI on Saturday after counting cash for nearly a day.
According to an official statement, the General Intelligence Directorate of GST in Ahmedabad received information on the basis of which the research was conducted. Officials raided the premises of the Trimurti Fragrance Pvt Ltd factory, which manufactures Shikhar Pan Masala and tobacco products, as well as the office and premises of Ganpati Road Carriers, in Kanpur, the statement said.
Earlier in July, the Income Tax (IT) department seized Rs 163 crore in cash and around 100kg of bullion from several premises of a road construction company in Tamil Nadu.
Read all the latest news, breaking news and news on the coronavirus here.