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Updated on: Thursday, December 30, 2021, 10:57 PM IST

Uttar Pradesh: Perfumer Piyush Jain ready to pay more tax, DGGI says liability yet to be calculated

Uttar Pradesh: Perfumer Piyush Jain ready to pay more tax, DGGI says liability yet to be calculated |

Uttar Pradesh: Perfumer Piyush Jain ready to pay more tax, DGGI says liability yet to be calculated |

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Lucknow: After much clamor over registering cash recovered during raids on UP perfumer Piyush Jain, as turnover, the tax authorities have clarified that assessment is yet to be made.

The Directorate General of GST Intelligence (DGGI) in a statement issued on Thursday has said that total amount of recovered cash from the residential and factory premises of Piyush Jain has been kept as case property in the safe custody of the State Bank of India pending further investigations. It stated that no deposit of tax dues has been made by the perfumer from the seized money to discharge their tax liabilities and their tax liabilities are yet to be determined.

However, the bail application moved by the perfumer Piyush Jain has clearly said that he has agreed to pay the estimated tax and penalty of Rs 52 crore levied on him. In the application (a copy of which is in the possession of FPJ) moved in the court of Special Chief Judicial Magistrate (Spl. CJM), Kanpur, it has been mentioned that perfumer Piyush Jain had agreed in writing to the deputy registrar, DGGI, Ahmedabad for payment of Rs 52 crore as tax and penalty. Later on Jain had sent an application to bank for the RTGS of said amount to GST department on December 26.

However, the statement of DGGI says that the voluntary submissions made by Piyush Jain are a subject matter of ongoing investigations and any view on the source of cash seized by the department and the exact tax liabilities shall be taken on the basis of appraisal of evidences collected from various premises during the searches and the outcome of further investigations. The statement further says that based on his voluntary admission of guilt and the evidence available on record, Piyush Jain was arrested for commission of offences prescribed under section 132 of the CGST Act and was produced before the Competent Court which has remanded him to 14 days judicial custody.

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Published on: Thursday, December 30, 2021, 10:57 PM IST
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