Bengaluru: Officials from Karnataka’s Commercial Taxes Department discovered around 60 kgs in unaccounted gold ornaments worth Rs 21 crores.
The raids were reportedly carried out on Tuesday, February 25.
According to a report by ANI, the gold was found when the officials carried out surprise inspections and raids on the business properties of wholesale jewellery dealers in the Ranganatha Mansion and Sakalajee Market areas in Chickpet.
The raids were conducted on a total of 23 jewellers. The gold ornaments, weighing 60 kgs, were found to not be covered by valid documents. The officers have levied appropriate penalties on the undocumented jewellery.
Srikar MS, Commissioner of Commercial Taxes said in a statement that the raid was conducted based on a tip-off that “many traders from other states visit the city and carry gold jewels without any valid documents and supply it to local jewellers without invoices”.
The Commissioner added that the enforcement wing is keeping a “close watch on the interstate movement of gold, silver”. He also advised dealers of the state not to purchase any goods without valid purchase invoices.
