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Wednesday, July 6, 2022

Tax evasion: 350.71 kg of gold seized in 2021-22- Mrit News

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The State Goods and Services Tax department seized 350.71 kg of gold during tax evasion checks in 2021-22, which showed a massive increase over the previous fiscal.

The gold was seized from different parts of the State during inspections carried out by the department’s intelligence squads to check tax evasion, department officials said on Saturday.

The seized gold, in the form of ornaments, gold biscuits, and in melted condition, lacked proper documentation or was brought into the State using papers bearing incomplete or incorrect information. The inspections raked in ₹14.62 crore for the State government by way of recouped tax and fine.

Altogether, 306 cases were registered in connection with the seizures. Gold was seized during inspections in vehicles, jewelleries, hallmarking establishments, ornament manufacturing centres, and in locations close to bus and railway stations.

In 2020-21, the department had seized 87.37 kg of gold in connection with 133 cases. The inspections had brought in ₹8.98 crore for the State government by way of fine and recovered tax.

Overall, the intelligence wing of the State GST department had detected 17,262 tax evasion cases in the 2021-22 fiscal.

Taxes Commissioner Rathan U. Kelkar said that inspections by the intelligence squads and test purchases would be intensified in the days ahead as part of the efforts to curb tax evasion.

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