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Kanpur GST raid: It is difficult to count so much cash, piles of notes in the operation, confiscated sandalwood oil worth Rs 6 crore

Kanpur Raid News: During the GST raids at Gutka and Perfume Company premises in Kanpur, Kannauj, sandalwood oil worth Rs 178 crore and 23 kg of gold worth Rs 6 crore were seized. In this case, perfume trader Piyush Jain was produced in court after questioning, from where he was remanded in judicial custody for 14 days. In this case, after the GST report, where the gold came from, the DII department is going to start an investigation into the matter. Piyush Jain, who is in custody, is constantly changing his mind, so when he goes to custody in other departments in the coming days, a lot of big names may come up in the JD of this matter.

The story begins with the recovery of black Kuber’s assets through GST evasion. Sources say only 12 crore rupees has been stolen. GST Intelligence Ahmedabad did not even take into account the local detectives of UP. He probably suspected that the news would spread and that the jump would fail. The GST team conducting the operation also did not believe that in case of counterfeit shipments of some trucks, banks and their officials would be called to count the notes with the note machine. Initially, Ahmedabad GST Intelligence caught some trucks of Ganpati Road carrier who were evading GST on the basis of fake invoices. During the raid in Ahmedabad, 200 such counterfeit consignments were found and the addresses of Kanpur and Kannauj were also found.

This is how the Kanpur campaign started

Based on that information, the GST team first reached the Shikhar Pan Masala office. The GST team says that Shikhar admitted his mistake and asked for Rs 3 crore 9 lakh as GST. The investigation team conducted another operation in Odocam Industries Anandapuri Kanpur in the other character of the case. This company used to supply perfume at the peak. According to an official involved in the operation, we believed that the case would end after a few crores of rupees were recovered, but the cash found in this secret dormitory blew the whole investigation team away, as cash was the only name. Bank officials and note counting machines were called to count the cash. Gradually this cash has reached over Rs 177 crore.

What will happen to Red’s money?

The question in your mind will be where the crores of cash will go, who will have it. According to the law, the cash will be deposited in the State Bank of India till the final decision of the case. If it is proved that this money is stolen or black money, then this money will be confiscated. If Piyush Jain proves that the money was earned by him, then the government will have to repay the money by paying interest for the number of years the money has been deposited in the bank.

Apart from this operation, the investigation team has also started operations in different places of Kanauj. According to sources, the verification of documents revealed that Odocam Company was formed in 1992 and has three partners, including Piyush Jain, Mahesh Jain and Ambareesh Jain.

Company turnover

1 crore 70 lakh turnover in 2017-18
5 crore 14 lakh turnover in 2018-19
5 crore 25 lakh turnover in 2019-20

Now only the GST team has gathered.

So far, only the GST intelligence team has been involved in the operation. He did not even call the Income Tax Department and other departments in this regard. According to the source, if there is more tax evasion than the case, the GST department has to call the income tax department. The Income Tax Department team was not called till this evening. According to the official information from the GST office, he raided the Odocam company’s factory and residential area in Kannauj. During the operation, Tk 16 crore in cash, 23 kg of gold along with foreign gold biscuits were recovered. In addition, 600 kg of sandalwood oil and perfume making items were recovered. The price of this oil is said to be 6 crore rupees. As soon as the gold of foreign origin was found, the GST department also informed the DRI, i.e. the Revenue Intelligence Department.

The revenue intelligence team has also left

According to the GST office, the Revenue Intelligence Department is sending a team to Kanpur and Kannauj to investigate. The team will investigate where the foreign gold came from, in what way, and how it was paid for. The EDO may soon enter into this case. The GST department has arrested Piyush Jain, the main character in the case, after a preliminary interrogation. Sources said that during the interrogation, Piyush was not giving satisfactory answers to the questions asked by the GST officials. GST Intelligence also has the power to arrest more than five crore cases. The arrested Piyush was produced before a special court in Kanpur, from where he was remanded in judicial custody for 14 days.

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Accused constantly changing statements

According to GST sources, Piyush Jain was constantly changing his mind. Sometimes he would say that all the money is not mine. Sometimes he says he collected the money by selling things and jewelry. Investigators suspect he is lying to save some people. In such a situation, when other investigating agencies will interrogate in the coming days, some more big names may come out in this case. The GST department has tied the knot with such a large amount of confiscation in its history, but there are still many questions.

 

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