No payment of tax dues made by Peeyush Jain yet: DGGI | India News – Times of India

NEW DELHI: The Directorate General of GST Intelligence (DGGI) on Thursday said no deposit of tax dues have been made by perfume-maker Peeyush Jain and his company, Odochem Industries, from the seized money to discharge their tax liabilities. It also said the exact amount of tax was yet to be determined.
DGGI said some reports stated that after admitting his liability, Jain has, with the approval of DGGI, deposited a total amount of Rs 52 crore as tax dues. “Thus, it is made out as if the department has agreed with the deposition of Jain and finalised the tax liability accordingly. These reports are purely speculative without any basis and seek to undermine the integrity of the ongoing investigations, which are being carried out in a most professional manner based on specific intelligence against the party,” DGGI said.
The DGGI had unearthed total cash of Rs 197.49 crore, 23 kg of gold and other high value goods from two premises in the case of Odochem Industries, Kannauj — a manufacturer of perfumery compounds — and its proprietor Peeyush Jain.
The agency said reports have appeared in certain sections of the media that DGGI has decided to treat the cash recovered as the turnover of the manufacturing unit and proposes to proceed accordingly. “In this regard, it is clarified that the total amount of cash in the ongoing case from the residential and factory premises of Jain has been kept as case property in safe custody of State Bank of India pending further investigations,” the agency said.
It also said the voluntary submissions made by Jain are a subject matter of ongoing probe and any view on the source of cash seized by the department and the exact tax liabilities of Odochem Industries or other parties involved in the investigation shall be taken on the basis of appraisal of evidences. Jain is in 14 days’ judicial custody.

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