The officials from the Kerala Goods and Services Tax (GST) department have seized 104 kg of unaccounted gold valued at around Rs 75 crore in massive raids across gold jewellery-manufacturing units, wholesale outlets and residences in Thrissur district. The raids began on Wednesday and concluded on this morning.
Close to 700 officials attached to the intelligence and audit wings of the state GST department participated in the raids, named Operation Torre del Oro (tower of gold), billed as the biggest of its kind in Kerala to date. The raid operation was led by Goods and Services Tax (GST) Special Commissioner Abraham Renn S.
As per the sources within the GST Department, the raid was conducted at 67 locations, including jewellery manufacturing units and the residences of owners. 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 the GST officials to initiate action against them, sources said
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 jewellery manufacturing in India, Thrissur has been under the radar of GST officials for a while now.