Kanpur search operations, DGGI Ahmedabad seizes more than Rs 177 crore

Kanpur search operations, DGGI Ahmedabad seizes more than Rs 177 crore On the 22nd of December 2021, the Ahmedabad unit of the Directorate General of GST Intelligence (DGGI) began search operations in Kanpur at the factory premises of Shikhar brand Pan Masala and Tobacco products, the office/Godowns of M/s Ganpati Road Carriers, Transport Nagar, Kanpur, and the residential/factory premises of M/s Odochem Industries, suppliers of perfumery compounds, in Kanpur and Kannauj. The officers tallied the actual stock available in the factory with the stock recorded in the books and discovered a shortage of raw materials and finished products after intercepting 4 trucks operated by M/s Ganpati Road Carriers carrying pan masala and tobacco of said brand cleared without payment of GST. This supported the theory that the producer was secretly removing products with the help of a transporter who used to issue bogus invoices to handle the shipment of those commodities. Over 200 fraudulent invoices were also confiscated by the officers. The manufacturers of the Shikhar brand of pan masala/tobacco products have recognized their tax due and deposited Rs 3.09 crore. The hunt for the partners of M/s Odochem Industries, who live at 143, Anadpuri, Kanpur, began on December 22, 2021, and was completed on December 22, 2021. This location has a total of Rs. 177.45 crore in unaccounted cash collected and seized. This is the largest cash seizure by CBIC officials to date. The documents seized from the scene are being examined. In addition, DGGI officers are currently searching the residential/factory premises of M/s Odochem Industries in Kannauj. During the searches in Kannauj, the officers discovered approximately Rs 17 crore in cash, which is currently being counted by SBI authorities. In addition, roughly 23 kg of gold was recovered, as well as a large amount of unaccounted raw materials used in the creation of perfumery compounds, including more than 600 kg of sandalwood oil kept in an underground storage facility with a market worth of nearly Rs 6 crore. The hunt in Kannauj is expected to last until the evening. The Directorate of Revenue Intelligence (DRI) has been enlisted to conduct the appropriate investigations because the gold recovered had foreign markings. Meanwhile, DGGI authorities questioned Shri Peeyush Jain, Partner of M/s Odochem Industries, Kannauj, based on evidence gathered thus far during the probe. Shri Jain's statement was recorded under section 70 of the Act on the 25th and 26th of December 2021, in which he agreed that the cash collected from the residential premises was related to the sale of products without payment of GST. Shri Peeyush Jain was arrested on 26.12.2021 for conduct of offences prescribed under section 132 of the CGST Act and was presented before the Competent Court on 27.12.20221, based on the overwhelming evidence on record indicating large-scale GST evasion by M/s Odochem Industries, Kannauj. The evidence gathered during the last five days of searches is being meticulously scrutinized in order to uncover the tax evasion. To Read Press Release Download PDF Given Below: