Lucknow: The investigation is being done by the Directorate General of Goods and Service Tax Intelligence (DGGI) of M/s Odochem Industries, the perfume maker of Kannauj. In this context, there have been reports in certain sections of the media that DGGI has decided to treat the recovered cash as the business of the manufacturing unit and has decided to proceed accordingly. Along with this, some media houses have also reported that Piyush Jain has deposited a total of Rs 52 crore as tax arrears with the approval of Directorate General of Goods and Service Tax Intelligence (DGGI) after accepting his liability.
Such news is completely fictional and baseless. DGGI denies this. It is clarified in this context that whatever CAS (cash) has been collected from Piyush Jain’s house and factory premises. It has been kept as case property in the safe custody of State Bank of India till the investigation goes on. No tax arrears have been deposited by M/s Odochem Industries from the forfeited amount for discharge of their tax liabilities and their tax liabilities are yet to be determined.
read also
Further, the voluntary submissions made by Piyush Jain are the subject of ongoing investigation. The total liability on M/s Odochem Industries as the source of the CAS seized by the department will be based on the result of the evaluation and investigation of the evidence collected from various premises during the search. Based on voluntary admission of offense and evidence available on record, Piyush Jain was arrested on 26.12.2021 for the offenses prescribed under section 132 of the CGST Act and produced before a competent court on 27.12.2021. Was. The Honorable Court has sent him to 14 days judicial custody.