Goods and Services Tax – GST Dated:- 30-12-2021 – News – In the context of ongoing investigations by the Directorate General of GST Intelligence (DGGI) in the case of M/s Odochem Industries, Kannauj- a manufacturer of perfumery compounds – and its proprietor Shri Peeyush Jain, wherein a total cash of ₹ 197.49 crore, 23 kg of gold and offending goods of high value have been recovered so far from two premises, 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. Some reports have even stated that after admitting his liability, Shri Peeyush Jain has, with the approval of DGGI, deposited a total amount of &
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harge their tax liabilities and their tax liabilities are yet to be determined. Further, the voluntary submissions made by Shri Peeyush 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 of M/s Odochem Industries or other parties involved in the investigation shall be taken on the basis of appraisal of evidences collected from various premises during the searches and the outcome of further investigations. Based on his voluntary admission of guilt and the evidence available on record, Shri Peeyush Jain was arrested on 26.12.2021 for commission of offences prescribed under section 132 of the CGST Act and was produced before the Competent Court
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