Lucknow: The day after the Directorate General of GST Intelligence (DGGI), Ahmedabad, recovered countless cash until Rs 177 Crore from the residence of the Kanpur Pebis, Piyush Jain, detective arrested him to be questioned on Saturday.
DGGI RAID in the premise in Kannaja, which began on Friday night, at the time of the last report came.
Privy’s source for probe said Piyush Jain was brought to a safe and questionable house for several hours.
A set of questions has been prepared to be submitted to him.
They said two other places from Jain on Kannauj were also looking for where his two sons were also visible.
A team consisting of 50 tax officials, consisting of units from above and Gujarat (Ahmedabad) involved in search operations.
Another place from the Perfume trader from Kannauj, Ranu Mishra, is also being sought by the DGGI team.
Sources say Mishra avoided the crores of rupees worth GST which was revealed after a certain tip-off.
So far, tax evasion around Rs 3.09 Crore has been revealed carried out through the Shell company.
Jain comes from Chhipatti in Kannaung and has a home, head office and showroom in Mumbai.
Simultaneous raids have begun at Kanpur, Mumbai and Gujarat at 11am on Thursday.
Jain has around 40 companies, including two in West Asia.
“He especially into the Perfumery business in Kannauj but has a showroom in Mumbai too.
Jain also took a loan on behalf of the Shell company and made a big foreign transaction,” said a source.
“The document is being studied.
Calculation of currency notes is still on the help of SBI officials,” he added.
Describing the modus operandi, an official said many invoices were produced in the name of a fake company, all of which were under 50,000 rs for one full truck, to avoid the generation of e-bills.
The agency will confiscate cash under Section 67 of the CGST law, the official said.