Tax Fraud: SCN served to 12 parties for GST Evasion of 496.68 Crore

The Directorate General of Goods and Services Tax, intelligence, zonal unit Ahmedabad has served demand-cum-show-cause notices to 12 parties, including Peeyush Kumar Jain and his businesses, for alleged evasion of Rs. 496.68 crore under section 74(1) of the CGST Act of 2017 read with section 74(1) of the UP GST Act of 2017.

Ambarish Tandon, an attorney and CGST counsel, claims that the Ahmedabad CGST unit raided a house in Kanpur and businesses in Kannauj. In December 2021, the CGST Ahmedabad unit detained Peeyush Jain on suspicion of tax evasion and found unaccounted for cash in the amount of Rs 196 crore as well as numerous kilogrammes of smuggled gold. In Kanpur, Jain is being tried. He came in court on Saturday, the day of the hearing, with the assistance of his attorney.

According to Tandon, Jain’s attorney had pleaded with the court to halt the case until the prosecution had presented all of the evidence, but the prosecution claimed that all of the evidence was already in the case. The next hearing date has been set by the court for May 23.