GST (Goods and Services Tax) officials said the money was linked to the dispatch of goods via fake invoices and without generating e-way bills
New Delhi:
Raids at premises linked to a businessman who supplies perfume manufacturer Piyush Jain with raw materials have recovered ₹ 150 crore cash, so far, IT department sources said.
The raids, which began on Thursday, are still going on and are taking place in Kanpur in Uttar Pradesh, as well as Mumbai and Gujarat.
The raids were initiated by GST (Goods and Services Tax) officials for tax evasion. After unearthing more details, the IT, or Income Tax, Department was also roped in.
The money recovered is still being counted.
GST officials said the money was linked to the dispatch of goods via fake invoices and without generating e-way bills. These fake invoices were created in the name of imaginary firms
These invoices were for ₹ 50,000 each and more than 200 such invoices – created without GST payments – were found in four trucks inside the trader’s warehouse.
All four trucks have been seized