Kerala GST Uncovers ₹100 Crore Turnover Suppression in Jewellery Sector Raids

Quick Summary

• The State Goods and Services Tax (SGST) department conducted raids in Thrissur district, uncovering turnover suppression worth over ₹100 crore.
• A total of 36 kg of unaccounted gold was found during the raids.
• The operation, named ‘Operation Arkenstone,’ involved more than 200 officers and targeted 42 locations.
• The inspections began on August 26 evening and continued into August 27, covering premises of 16 jewellery establishments as well as residences of traders.

Indian Opinion Analysis

The discovery of significant financial irregularities such as ₹100 crore in suppressed turnover highlights ongoing challenges with compliance in India’s GST regime. With the SGST department deploying large-scale resources like over 200 personnel under ‘Operation Arkenstone,’ such actions indicate heightened vigilance to curb tax evasion.This crackdown could deter future violations while improving clarity within high-value trading sectors like jewellery. However, balancing enforcement with consistent engagement from traders would be crucial to ensuring long-term compliance across industries.

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