Bhubaneswar: GST wing seizes Rs 5.68 crore from businessman Boudh | Bhubaneswar News

BHUBANESWAR: The CT (trade tax) and GST (goods and services tax) enforcement wing of the state on Friday seized Rs 5.68 crore in cash from a textile dealer in Budh district, the highest transport ever in Odisha.
TPS officials came across wads of cash, mostly in denominations of Rs 500, during the raid on Shree Vinayak Textilesagainst whom there was a charge of tax evasion. Bajranglal Agarwalthe textile merchant, had stashed the money in the closet of his room.
“We had received a denunciation of the presence of enormous cash at his home. Our team carried out search operations in his showroom (Shree Vinayak Textiles) and at his home. The money was seized at his home, “said said a TPS official. At least 20 tax officials took several hours to count the money.
As per procedure, TPS officials deposited the money in Agarwal’s account and provisionally seized the money. “We are asking him about the source from where he got so much money. His computers, laptops and documents were seized,” the official added. During the investigation, officials discovered that the businessman was paying a negligible amount of taxes to the government, despite having a huge turnover in his business.
CT and TPS officials also raided Singhal N Singhal, another textile showroom in Boudh, and uncovered the tax evasion. Officials, however, did not disclose the exact amount of tax evasion by Shree Vinayak Textiles and Singhal N Singhal.
On January 29 this year, the CT and GST enforcement wing seized Rs 1.01 crore in cash from a jewelery shop in Salipur in Cuttack district. A few days ago, officials levied a penalty of Rs 61 lakh from Tarini Bastralayaa major textile showroom in Bhubaneswar.

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