Gold Seizure Shock: 'Arkenstone' Operation Uncovers Massive Sales Suppression
A major operation codenamed 'Arkenstone' by the State GST department uncovered sales suppression worth over Rs 100 crore after raiding jewellery shops in Thrissur. The operation involved searches at 42 locations, recovering 36 kg of unaccounted gold and Rs 2 crore in tax. Strict actions continue against tax evasion.
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The State GST department has uncovered a massive Rs 100 crore sales suppression in an ambitious operation named 'Arkenstone'. This discovery followed extensive raids conducted on jewellery shops in Thrissur, officials confirmed on Friday.
The sweeping operation commenced at 4.30 PM on August 26 and spanned into the next day, involving approximately 200 officers from the State GST Intelligence and Enforcement wing, according to a statement by the Additional Commissioner of GST.
Conducted at 42 distinct locations, including 16 jewellers' establishments and residences in central Kerala, the operation saw the seizure of 36 kg of illegally stored unaccounted gold. The department has recovered over Rs 2 crore through taxes and penalties from initial findings, and continuous enforcement actions against tax evasion are pledged by the State GST Commissioner.
(With inputs from agencies.)
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