NEW DELHI :
The Directorate Common of GST Intelligence (DGGI) mentioned on Thursday that the tax legal responsibility of fragrance maker Odochem Industries, Kannauj, from which a considerable amount of money and gold was recovered, will likely be decided after investigations are over.
DGGI is at the moment investigating the corporate and its proprietor after Rs. 197.49 crore, 23 kilogram of gold and different excessive worth “offending items” have been recovered from two premises.
DGGI mentioned in a press release that voluntary submissions made by proprietor Peeyush Jain are a subject of ongoing investigations. “Any view on the supply of money seized by the division and the precise tax liabilities of M/s Odochem Industries or different events concerned within the investigation shall be taken on the idea of appraisal of evidences collected from numerous premises in the course of the searches and the end result of additional investigations,” the investigating company mentioned on Thursday.
DGGI additionally denied experiences about treating the money recovered because the turnover of the manufacturing unit. The company additionally denied experiences that the corporate’s promoter has with the approval of the investigating company deposited a complete quantity of ₹52 crore as tax dues. Referring to those experiences, the company mentioned, it’s made out as if the division has agreed with the deposition of the promoter and finalised the tax legal responsibility accordingly. “These experiences are purely speculative, with none foundation and search to undermine the integrity of the continued investigations that are being carried out in a {most professional} method primarily based on particular intelligence towards the get together,” the assertion mentioned.
No firm web site with contact particulars was accessible for reaching out for a remark for the story. The database of Registrars of Corporations didn’t present up the corporate particulars in a search whereas no government was accessible on phone numbers of the corporate listed in commerce portals.
Supply: Live Mint