In a significant crackdown, State Goods and Services Tax (GST) officials have seized 104 kg of unaccounted gold during extensive raids in Thrissur district, Kerala. These operations, which began on October 23, 2024, focus on gold jewellery-manufacturing units, wholesale outlets, and residential properties.
Approximately 700 officials from the GST department’s intelligence and audit wings are involved in these raids, marking them as the largest of their kind in Kerala’s history. According to a senior GST official, the seizures have been categorized as “stock difference,” indicating discrepancies in inventory records.
Locations Targeted: More than 70 sites across Thrissur, a prominent hub for gold trade in central Kerala, have been inspected.
Additional Findings: In addition to gold, officials have reportedly confiscated various documents that may reveal instances of tax evasion.
The raids were executed with a high level of secrecy. Squads were discreetly dispatched from multiple locations to target sites, ensuring minimal prior notice to the establishments involved.
These actions underline the GST department’s ongoing efforts to combat tax evasion and regulate the gold trade, especially in regions where gold transactions are a critical component of the local economy. As investigations continue, further updates on the impact of these raids and potential legal repercussions for those involved are anticipated.
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