Patiala: Gold & diamond jewellery worth Rs 5 crore seized from car
March 17, 2024 - PatialaPolitics
Patiala: Gold & diamond jewellery worth Rs 5 crore seized from car
Patiala, 16 March:
Following the implementation of the Model Code of Conduct for the Lok Sabha Election 2024, the Punjab Taxation Department has increased its road inspections, resulting in the seizure of approximately Rs. 5 crore worth of Gold and Diamond jewellery from a private vehicle.
Jiwan Jot Kaur, PCS Additional Commissioner of the Taxation Department, disclosed that, in accordance with directives from Shri Vikas Partap Singh, IAS, Additional Chief Secretary (Taxation), Punjab, and Shri Varun Roojam, IAS, Taxation Commissioner, Punjab, a concerted effort has been initiated to combat tax evasion through intensified road checks during the forthcoming Lok Sabha Election, 2024. During this targeted initiative, which commenced immediately upon the declaration of the Code of Conduct, a team led by Hukam Chand Bansal, STO, under the supervision of ACST Pardeep Kaur Dhillon, SIPU, Patiala, intercepted Gold Jewellery and Diamond-studded Gold Jewellery valued at approximately Rs. 5 crores based on credible information.
The State Tax Officer received reliable intelligence regarding the transportation of a significant quantity of precious metals, originating from Bathinda and destined for Chandigarh, in a white Innova car bearing registration number CH01BQ0402. Following an extensive pursuit, the vehicle was apprehended near Toll Plaza Kalajhar (Bhawanigarh-Patiala road) on 16/03/2024 at 22:51 hours. The owner of the goods failed to furnish the requisite documents as mandated by the provisions of the GST Act, 2017. Preliminary physical verification confirmed the nature of the goods as Gold jewellery and Diamond-studded Gold Jewellery, comprising Rings, Bangles, Choker sets, necklaces, etc. In the absence of proper and authentic documentation, the goods were impounded on the spot. However, further investigation is underway to determine the actual value of the goods and validate the accompanying documents.
She emphasized that the concerned firm would face penalties for tax evasion once the evaluation of the gold and diamonds is completed.