Thrissur: In one of the biggest seizure conducted by the Enforcement Directorate, the state GST department has seized 105 kg of unaccounted gold following an extensive raid on places owned by jewellery manufacturers and owners in Thrissur. The raid, which began on Wednesday evening, has so far covered 73 premises belonging to 35 jewellery owners and manufacturers. The raids were launched based on a months-long investigation by the Intelligence and Enforcement wing, Thrissur, of the state GST department.
According to officials, the probe has revealed that many of the manufacturers engaged in the transaction of gold without paying tax. Some of the owners have also been found evading tax. The raids have unearthed evidence showing evasion of tax, officials pointed out. The raids, which have been going on since Wednesday, are likely to conclude by Thursday noon.
Titled Operation ‘Torre del Oro’ (Tower of Gold), the officials raided godowns, manufacturing centres, shops, and houses of people in the gold industry centered in Thrissur.
“It primarily focused on unearthing unaccounted transactions between jewellery manufacturers and jewellery owners over a period of five years,” said Abraham Renn, special commissioner, GST.
“It is first time the GST Department is launching such a huge raid in jewellery manufacturing units. Huge default in billing and taxation process was found in these units which forced us to initiate action against them,” said another officer who was present in the raid team.
More than 34 residences of jewellery shop owners were also raided. Though GST raids are normal in jewellery shops, inspections in major manufacturing units simultaneously have shocked businessmen.
Being a major hub of gold and diamond jewelry manufacturing in India, Thrissur has been under the radar of GST officials for a while
