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Jeweller fined for unaccounted gold

A Bengaluru-based jewelry store has been fined Rs 64.2 lakh by the GST cell of the Income Tax Department after its employees were caught with 6.5 kg of unaccounted gold jewelry worth ?3.3 crores during a random vehicle inspection in November 2020. SS Jewellers, based in Nagarpete, gets its jewelry designed in Mumbai and transports it illegally through a private courier to avoid paying taxes, a senior police officer said.

During their night rounds in Doddapete last November, police constables Hanumantha and Anand stopped two people on a scooter. The search revealed that they were carrying a bag full of gold jewelry. Despite telling the police that it was fake jewelry, the two were taken to the station as they were unable to provide proof.

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On questioning, they claimed to be transporting the gold for a jewelry store. As a result of their confession, the case was handed over to the I-T Department, which slapped a fine on the GST cell, said the police.


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