On 22nd December a joint team of the Income Tax and the Directorate General of GST Intelligence (DGGI) raided the offices and home of Kanpur-based businessman Piyush Jain. The raid lasted for 5 days! During the raid the GST officials found over Rs 250 crore of cash. The money was allegedly linked to the sale of goods via fake invoices and he was blamed for not paying tax and GST. Four trucks full of goods without any GST paper were intercepted by GST officials. Officials also found 23 kg gold, and 600 kg sandalwood were recovered from his residence. Piyush Jain is a Kanpur-based perfume businessman. He used to conduct his business at Kanpur’s Uttar Wali Gali and had offices in Kannauj, Kanpur, and Mumbai. He has around 40 companies, including two in the Middle East. According to media reports, to avoid being in the limelight, the businessman used an old scooter back at his native place Kannauj. In Kanpur, he reportedly only had two old cars at his disposal. 

Despite sitting on a pile of wealth, perfume trader Piyush Jain used to lead a minimalist lifestyle to evade the eyes of the public and tax sleuths. According to media reports, to avoid being in the limelight, the businessman used an old scooter back at his native place Kannauj. He would avoid swanky cars and used to drive in old vehicles to evade attention. He even changes his watchmen every 1-1.5 years. Jain had employed only two watchmen at a salary of Rs 7,500 per month and even they were not allowed to go inside the house.

In November, Jain also launched Samajwadi Party’s perfume, branded as ‘Samajwadi Attar’. Uttar Pradesh CM Yogi Adityanath has alleged that Piyush Jain has links with the Samajwadi Party. He has now been arrested and an inquiry is going on.

Tags

• Kanpur
• businessman
• raid
• gst
• income
• tax

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