Gold and jewellery traders keep shops shut for 9th day

The government last week demonetised high denomination of Rs 500 and 1,000 notes to flush out black money.

By: PTI | Mumbai | Published:November 19, 2016 3:04 pm
demonetisation, jewllery shops, gold sellers, gold jewellery india, gold india, india news Most of the jewellery showrooms here have been closed since November 11.

Gold and jewellery establishments in the national capital remained shut for the 9th day on Saturday 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 note. The survey operations were carried out in at least four locations, including the popular Dariba Kalan, Chandni Chowk and Karol Bagh.

The government last week demonetised high denomination of Rs 500 and 1,000 notes to flush out black money. Most of the jewellery showrooms here have been closed 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.