RJ Market Watch
GST officials collect Rs 24 lakh fine from gold traders in Odisha
BERHAMPUR: GST officials on Sunday collected Rs 24 lakh fine from the merchants who were intercepted with gold ornaments weighing 6.7 kg and 239 kg silver jewellery.
SDPO BP Pati said the three merchants produced the receipts of GST paid at Salem in Tamil Nadu. To verify the receipts, police informed the GST officials. Accordingly, deputy superintendent of GST D Behera verified the documents and GST receipts of the ornaments worth of Rs 4 crores and found them to be genuine.
However, the merchants could not produce way bill for the consignment. As per norms, three per cent tax on the cost of ornaments was collected. Besides, another three per cent was collected towards penalty, the SDPO added. Later, the seized ornaments were returned to the merchants.
On Saturday night, Gosaninuagaon police had detained a car bearing Tamil Nadu registration number with three persons. During search, the gold and silver ornaments kept in two secret cabinets under the front and rear seats of the car were found.
Courtesy: New Indian Express
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