105 kg unaccounted gold seized in massive raid in Thrissur

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.

The raids were led by Abraham Renn S, Special Commissioner, GST. Titled Operation 'Torre del Oro'  (Tower of Gold), the officials raided godowns, manufacturing centres, shops, and houses of people in the gold industry centred in Thrissur. " It primarily focused on unearthing unaccounted transactions between jewellery manufacturers and jewellery owners over a period of five years," said Abraham Renn.

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.