Rs 150 crore seized from the office of a UP businessman; Commercial costs BJP, SP

Goods and Services Tax (GST) authorities recorded their biggest recovery of money to date with 150 crore rupees seized from several locations in Kanpur allegedly linked to Piyush Jain, a businessman which sells pan masala and perfumes, officials said.

As UP polls loom, the seizure sparked a political blame game with the the ruling BJP and the opposition SP accusing each other of having questionable ties to Jain.

According to an official statement, the GST Intelligence Directorate in Ahmedabad received information on the basis of which the search was conducted on Wednesday. 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.

The living quarters of Odochem Industries partners in Kannauj, which supplies perfume compounds, were also raided. “… A huge amount of money, wrapped in paper, was found. The cash counting process was initiated with the help of officials from the State Bank of India, Kanpur… The total amount of cash is expected to exceed Rs 150 crore, ”the statement said.

“This is the biggest recovery on record in the history of CBIC,” Vivek Johri, chairman of the Central Council for Indirect Taxes and Customs (CBIC), told ANI news agency, adding that ‘no arrests had taken place so far.

“A case of false invoicing and false credit has been reported… The DGGI Ahmedabad team has launched research on the manufacturer of pan masala and its supplier. A carrier and a perfume company from Unnao were also raided as they were suppliers of perfumes to the company pan masala, ”he said.

According to the official press release, the transporter would have generated several invoices on behalf of non-existent companies, all of them less than Rs 50,000 for a truck load, in order to avoid the generation of electronic invoices during the movement of goods.

The carrier would also have collected the proceeds from the sale of this “surreptitious cash supply” and turned it over to the manufacturer after deduction of the commission, he said.

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Officers first intercepted and seized four of the trucks outside the factory premises, cleared customs without invoices or electronic invoices, the statement said.

“On the premises of the factory, during the physical inventory, a shortage of raw materials and finished products was noted because the finished products had been illegally cleared. The authorized signing officer of the company admitted to clearing the goods without GST, ”he said.

More than 200 false invoices used in the past for transporting goods without payment of GST were recovered from the premises of Ganpati Road Carriers, he said, adding that Rs 1.01 crore in cash had been seized .

Following the seizure of money from Jain, a native of the SP stronghold of Kannauj, UP BJP spokesman Rakesh Tripathi accused the opposition party of obtaining a “helping hand from corrupt and rogue people “.

“Several people close to the SP are raided by IT and ED, in which hundreds of crore of silver were found. They had accumulated unrecorded wealth through corruption. Now that the elections are approaching, they are opening their lockers, ”Tripathi said.

In response, SP national spokesperson Rajendra Choudhary said Jain had nothing to do with the SP. “He is not in our party, and I do not know him,” he said. Another national spokesperson and former minister Anurag Bhadoria tweeted: “The Kanpur businessman is part of the BJP… The SP has nothing to do with this BJP friend or his scent,” he said. he tweeted.

BJP national spokesperson Sambit Patra tweeted alleged footage of the raids on Jain’s premises. “The Samajwadis have a slogan that the people’s money is theirs. Piyush Jain is the one who started the Samajwadi ‘itra’ (perfume) and was raided by the GST team, where over 100 crore rupees were found. What black Samajwad money is this? He tweeted.

On November 9, SP Akhilesh Yadav released a “Samajwadi perfume” during a press conference at the party’s headquarters in Lucknow. He had said that the perfume “will carry the Samajwadi perfume”.

The scent was made by Kannauj’s MLC party team, Pushpraj Jain. On Friday, Pushpraj Jain said, “I have nothing to do with Piyush Jain. I had launched the SP perfume myself. The only thing is that Piyush Jain is from the same community as me. If a raid has been made against him, he will deal with it himself. He had made no contribution to the perfume, which was launched by me in November.

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