Thrissur Gold Bust: The Undercover Raid Unveiling Unaccounted Wealth

Kerala GST officials meticulously planned a massive raid on gold jewellery units in Thrissur, uncovering 104 kg of unaccounted gold linked to tax evasion. The operation, backed by Finance Minister K N Balagopal, involved 700 officers transported covertly to ensure secrecy. The Kerala Gold and Silver Merchants Association criticized the raids, citing business disruptions.

Kerala GST officials implemented a meticulously planned raid on gold jewellery manufacturing units in Thrissur, aiming to uncover unaccounted gold associated with tax evasion. The operation, spanning two days, saw the involvement of 700 officers and led to the seizure of 104 kg of unaccounted gold.

Carried out with the full support of state Finance Minister K N Balagopal, the operation was conducted discreetly. Officers were transported in tourist buses, labeled as study tours, to conceal their mission from gold traders. The covert mission was aptly named 'Torrel del Oro,' a Spanish term for 'Tower of Gold'.

Despite ongoing investigations to ascertain the exact amount of tax evasion, the Kerala Gold and Silver Merchants Association condemned the raids. They accused the GST department of depicting legitimate traders as tax evaders, noting that the operations were conducted disruptively, with no action against unregistered gold smugglers.

(With inputs from agencies.)