Boudh, Aug 6: Odisha State CT and GST Enforcement Wing has recovered cash of Rs 5.69 crore conducting raids on two garment traders in the district.

Three teams comprising 18 tax officers and police personnel conducted raids at the godowns and residential places of Singhal N Singhal at Hospital Road and Shree Binayak Textiles at PWD Road on Friday.

Investigation revealed that both textile traders have paid a very negligible amount of differential tax on their sales despite having a huge turnover. Several computers, laptops, bank passbooks, and other documents have been seized for further investigation.

After checking the purchase and sale details, and stock accounts of the last five years of Shree Binayak Textiles, the officials found gross irregularities in tax payments.

“A sum of Rs 5.69 crore has been recovered from Shree Binayak Textile during the course of the inspection. It has been deposited in a bank account and the account has been frozen. The total tax fraud will be revealed after a thorough investigation,” said an official.