Kanpur raids: DGGI clarifies on tax payment offer made by Peeyush Jain
Premium- A total cash of ₹197.49 crore, 23 kg of gold and offending goods of high value have been recovered from Kanpur-based Peeyush Jain
The Directorate General of GST Intelligence (DGGI), which seized ₹197.49 crore cash from a perfume baron in a search operation that went on for four days, on Thursday said that no deposit of tax dues had been made by Peeyush Jain and that the reports suggesting so are "speculative".
In a detailed statement, the agency said in the case of Odochem Industries, Kannauj - a manufacturer of perfumery compounds - and its proprietor Peeyush Jain, a total cash of ₹197.49 crore, 23 kg of gold and offending goods of high value have been recovered.
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The DGGI said that it has been reported that the agency has decided to treat the cash recovered as the turnover of the manufacturing unit and proposes to proceed accordingly. It said some reports have even stated that after admitting his liability, Peeyush Jain has, with the approval of DGGI, deposited a total amount of ₹52 crore as tax dues.
"These reports are purely speculative, without any basis and seek to undermine the integrity of the ongoing investigations which are being carried out in a most professional manner based on specific intelligence against the part," the agency said.
The DGGI clarified that the total amount of cash in the ongoing case from the residential and factory premises of Peeyush Jain has been kept as case property in the safe custody of the State Bank of India pending further investigations. "No deposit of tax dues has been made by M/s Odochem Industries from the seized money to discharge their tax liabilities and their tax liabilities are yet to be determined," it added.
"Further, the voluntary submissions made by Shri Peeyush Jain are a subject matter of ongoing investigations and any view on the source of cash seized by the department and the exact tax liabilities of M/s Odochem Industries or other parties involved in the investigation shall be taken on the basis of appraisal of evidences collected from various premises during the searches and the outcome of further investigations," the statement said.
Based on his voluntary admission of guilt and the evidence available on record, the agency said, Peeyush Jain was arrested on 26 December 2021.
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