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Rs 150 Crore (And Counting) Found At UP Businessman's Home In Tax Raid


Rs 150 Crore (And Counting) Found At UP Businessman's Home In Tax Raid

New Delhi:

Raids at premises linked to a businessman who provides fragrance producer Piyush Jain with uncooked supplies have recovered Rs 150 crore money, thus far, IT division sources stated.

Pictures from the raid confirmed two mountains of money – wrapped in paper and stuffed into two wardrobes. One other {photograph} confirmed IT and GST officers squatting in the course of a room surrounded by piles extra of money and a lone note-counting machine.

The raids started on Thursday and are nonetheless occurring, sources have stated.

They’re happening in Kanpur in Uttar Pradesh, in addition to Mumbai and Gujarat.

The raids had been initiated by GST (Items and Companies Tax) officers for tax evasion. After unearthing extra particulars, the IT, or Revenue Tax, Division was additionally roped in.

The cash recovered remains to be being counted.

GST officers stated the cash was linked to the dispatch of products by way of faux invoices and with out e-way payments. These faux invoices had been created within the title of imaginary companies.

These invoices had been for Rs 50,000 every and greater than 200 such invoices – created with out GST funds – had been present in 4 vans contained in the dealer’s warehouse.

All 4 vans have been seized.

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