‘Biggest cash seizure in history’: DGGI team seizes over ₹177 crore in Kanpur

“The cash counting ended late last night. The search is still on,” official sources told ANI.

The Central Board of Indirect Taxes and Customs, the apex body of the investigating agency Directorate General of GST Intelligence (DGGI), which is conducting a search, called it the biggest cash seizure in history.

Sources told ANI that searches are still on at DGGI Ahmedabad unit Trimurti Fragrance Pvt Ltd, Kanpur, manufacturers of Shikhar brand pan masala and tobacco products and the agency is evaluating tax evasion by the parties which are under investigation.

The officer further said that no arrest has been made so far and searches are on in Kanpur and Kannauj.

According to a top government source, the cash recovered from the searches has been confiscated under the provisions of section 67 of the Central Goods and Services Tax (CGST) Act and deposited in the State Bank of India.

“Whose has most of the currency 500 denominations. belong to some 2000 denomination,” the top government source said.

Further, the sources said that the cash recovered is a part of the sale proceeds and it was hidden in the premises. “The pan masala company has committed tax evasion on a large scale,” he said.

Currently, mixed tobacco items, pan masala are among those products which attract the highest GST rate of 28 per cent and also compensation cess. The rate of cess on tobacco products is 4,170 per 1,000 sticks or 290 per cent ad valorem, while pan masala has 135 per cent ad valorem.

The DGGI team is evaluating the tax evasion data by matching the sale of pan masala.

an amount of So far Rs 3.09 crore has been recovered from Trimurti Sugandha as payable tax.

Sources said that the entire search operation is being carried out by the Ahmedabad branch of DGGI in collaboration with the local Central GST officials.

“No other agencies are involved in the operation, as mentioned in some media reports,” the sources said.

Sources further informed ANI that inside the premises of the transporter, M/s Ganpati Road Carriers, more than 200 fake invoices, which were earlier used for transporting goods without payment of GST, have been recovered.

Sources said, “The transporter has also admitted that goods were being transported without e-way bill under the guise of fake invoice. Had to hand it over to the producer.”

“an amount of Rs 1.01 crore in cash has been seized from the possession of the transporter. Four such trucks have been seized outside the factory premises.