Jewellers Shut Shops For 5th Day After Income Tax Survey

jewellery_showroom

Gold and jewellery shops remained closed for the 5th day on Tuesday, after the Income Tax Department conducted surveys following reports of alleged profiteering and tax evasion by traders and other operators in reported conversion of demonetised notes. The survey operations were carried out on November 10 in at least four locations in Delhi-NCR region, including Dariba Kalan, Chandni Chowk and Karol Bagh.

Jewellers in major cities like Delhi, Mumbai, Kolkata, Chennai, Ahmedabad, Bangalore, Hyderabad, Bhopal, Vijaywada, Nashik and Lucknow are initially under the scrutiny of the DGCEI officials, they said, adding that this exercise can later be extended to other cities too. The move comes after Finance Ministry directed the jewellers to sell gold and ornaments made from it only against customers’ PAN details.

“The person who buys jewellery has to give his PAN number. We are issuing instructions to the field authorities to check with all the jewellers to ensure that this requirement is not compromised. Action will be taken against those jewellers who fail to take PAN numbers from such buyers. When the cash deposits of the jewellers would be scrutinised against the sales made, whether they have taken the PAN number of the buyer or not will also be checked,” Revenue Secretary Hasmukh Adhia had said.

Most jewellery houses have been closed since November 11 in the national capital. According to the sources, the officials of Directorate General of Central Excise Intelligence (DGCEI), an arm under the Finance Ministry, has sent notices to these jewellers seeking details of the gold sales.

About admin

Post Author: admin

Leave a Reply

Your email address will not be published. Required fields are marked *