New Delhi: Piyush Jain, Kanpur based perfume businessman, who was arrested by the GST officials over tax evasion charges, has been sent to 14-day judicial custody by a city court on Monday (December 27).


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The trader was arrested by the GST Intelligence officers on Sunday after an Income Tax raid at his residence in Kanpur and Kannauj led to the recovery of over Rs 250 crores of cash, 23 kg gold, 600 kg sandalwood, as per ANI.


Surendra Kumar, Joint Commissioner (Kanpur), Goods and Services Tax, had said on Sunday night that Jain has been arrested on charges of tax evasion.


“Piyush Jain, promotor of Odochem Industries, has been arrested by the Directorate General of GST Intelligence (DGGI) and will be presented in Kanpur court on Monday 27,” he said. 


The money, recovered from Jain, was allegedly linked to the dispatch of goods via fake invoices and without e-way bills by a goods transporter caught in Ahmedabad, said a senior official.



Piyush Jain has allegedly evaded over Rs 50 crore worth of tax.


On Sunday, a senior CST official said that Jain's remand will be sought for interrogation from the Central Goods and Services Tax (CGST) court. while another official on the condition of anonymity informed that cash worth over Rs 257 crore as well as gold and silver was recovered during a series of raids on the premises owned by Jain.


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