The state CT (commercial tax) and GST (goods and services tax) enforcement wing on Friday seized Rs 5.68 crore in cash from a textile dealer in Boudh district, the highest ever haul in Odisha.
The GST officials stumbled upon wads of cash, mostly in Rs 500 denomination, during the raid on Shree Vinayak Textiles, against which there was a tax evasion charge. Bajranglal Agarwal, the textile dealer, had stashed the cash in the cupboard of his bedroom.
“We had received a tip-off about the presence of huge cash in his home. Our team conducted search operations in his showroom (Shree Vinayak Textiles) and his residence. The cash was seized from his residence,” a GST official said. At least 20 tax officials took several hours to count the cash.
As per the procedure, the GST officials deposited the cash in Agarwal’s account and provisionally attached the money. “We are questioning him about the source from where he got so much huge cash. His computers, laptops and documents have been seized,” the official added. During inquiry, the officials found that the businessman paid negligible amount of tax to the government, despite having a huge turnover in his business.
The CT and GST officials also raided Singhal N Singhal, another textile showroom in Boudh, and came across tax evasion. The officials, however, did not disclose the exact amount of tax evasion carried out by Shree Vinayak Textiles and Singhal N Singhal.
On January 29 this year, the CT and GST enforcement wing had seized Rs 1.01 crore cash from a jewellery store at Salipur in Cuttack district. A few days back, the officials collected a penalty of Rs 61 lakh from Tarini Bastralaya, a leading textile showroom in Bhubaneswar.
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