UP Businessman gets GST Notice of Rs. 497 Crore; DGGI Seized Rs 200 Crore Cash

The Directorate General of GST Intelligence (DGGI) is set to file a charge sheet against Uttar Pradesh businessman Piyush Jain and his associates. Piyush Jain came under scrutiny after more over Rs.200 crore in cash was seized from his properties during central agency raids in 2021.

According to reports, the DGGI has now imposed a Rs. 497 crore tax liability on Piyush Jain and his three companies, which are M/s Odocham Industries, M/s Flora Naturale, and M/s Odosanth Inc. In addition, the Directorate intends to file a charge sheet against Uttar Pradesh businessman Piyush Jain and his colleagues.

The DGGI has demanded an additional Rs.290 crore from Piyush Jain and his 14 partners. The agency has also notified six firms, including three of Piyush’s, as well as eight directors and partners.

The charge sheet against Piyush and his associates will be filed in court soon, according to DGGI’s Special Public Prosecutor, Ambrish Tandon. A total of Rs. 207 crore has been confiscated, and a further Rs.290 crore may now be required.

Piyush Jain was arrested on December 26, 2021, after the Director General of GST Intelligence (DGGI) accused him of tax evasion. Other people doing business with Piyush Jain, such as the transporter and pan masala supplier, are expected to face more challenges as a result of the DGGI notice.

Six firms, including three Piyush firms and their eight directors and partners, have been served with notice on behalf of DGGI. According to Ambrish Tandon, the charge sheet against them will be submitted soon in court.

Piyush’s lawyer, Chinmay Pathak, said the next hearing in the special CJM court will be on May 23 on the proceedings filed against him by the DGGI for GST evasion and the DRI for gold smuggling.