DGGI’s counsel opposes bail plea of Piyush Jain

Kanpur: Directorate general of Goods and Services Tax Intelligence Ahmedabad zonal unit on Tuesday strongly opposed the bail application of fragrance trader Piyush Kumar Jain.
Piyush in his bail application had proposed to pay Rs 35.38 crore as a penalty and GST on the seized amount and requested the court to grant him bail. But the DGGI Ahmedabad had strongly opposed it.
Ambarish Tandon, counsel for DGGI in his reply stated that the applicant despite having admitted the GST liability as per his own self-assessment and had offered to deposit the liabilities by him under protest and not willingly as stated therein. The averments made by the accused were misleading as the exact GST liabilities of the firms controlled/managed by the applicant are yet to be determined, and the GST liabilities of Rs.35.38 crore as referred to by the applicant, had been declared by the applicant himself, which is a self-assessed/self-ascertained liability. The department is yet to complete the investigation and determine the exact tax liability of the applicant, he said.
Since the investigation was still going on, the exact tax liability could not be ascertained. As soon as the investigation was completed the DGGI would issue a show cause notice disclosing the penalty and the interest, the counsel of DGGI said.
The court after hearing the arguments fixed April 11 as the next date of hearing.
In the matter of gold recovery, the directorate of Revenue Intelligence (DRI) had preferred an appeal to extend the judicial remand as the investigation was going on in a virtual hearing. The court extended the judicial custody remand in this case till April 11.