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Jewellers shut shops in New Delhi for 11th day after Income Tax survey

Gold And Jewellery Establishments In The National Capital Remained Shut For The 11th Day On Monday After Income Tax Department On November 10 Carried Out Surveys Following Reports Of Alleged Profiteering And Tax Evasion By Traders As Government Demonetised High Value Currency Notes.

PTI | Updated on: 21 Nov 2016, 11:20:52 PM
Income Tax department( File Photo)

New Delhi:

Gold and jewellery establishments in the national capital remained shut for the 11th day on Monday after Income Tax Department on November 10 carried out surveys following reports of alleged profiteering and tax evasion by traders as government demonetised high value currency notes.

The survey operations were carried out in at least four locations, including the popular Dariba Kalan, Chandni Chowk and Karol Bagh.

The government on November 8 demonetised 500 and 1,000 rupee notes to flush out black money. Most of the jewellery showrooms here have been closed in the national capital since November 11.

According to sources, the officials of Directorate General of Central Excise Intelligence (DGCEI), an intelligence arm under the Finance Ministry, has sent notices to these jewellers seeking details of the gold sales.

They have been asked to give details like quantity of stock held by them and sales made during these days.


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First Published : 21 Nov 2016, 11:16:00 PM

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Demonetisation Jewellers