Over 600 jewellers asked to give details of gold sales

Jewellers in major cities like Delhi, Mumbai, Kolkata, Chennai, Ahmedabad, Bangalore, Hyderabad, Bhopal, Vijaywada, Nashik and Lucknow are initially under the scrutiny of the DGCEI officials.

By: PTI | New Delhi | Published:November 11, 2016 7:47 pm
demonetisation, jewellers, notes, 500 rupees, 1000 rupees, gold sale, gold, news, latest news, India news, national news Teams of DGCEI officials are also visiting major jewellery stores and their manufacturing units to serve notices seeking these details, the sources said.

In another move to check illegal sale of gold after demonetisation of high-value notes, excise officials have summoned details of sale of the yellow metal and ornaments from over 600 jewellers across 25 cities. 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 in the past four days, beginning November 7, official sources said on Friday.

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They have been asked to give details like quantity of stock held by them and sales made during these days. Teams of DGCEI officials are also visiting major jewellery stores and their manufacturing units to serve notices seeking these details, the sources said.

Jewellers in major cities like Delhi, Mumbai, Kolkata, Chennai, Ahmedabad, Bangalore, Hyderabad, Bhopal, Vijaywada, Nashik and Lucknow are initially under the scrutiny of the DGCEI officials, they said, adding that this exercise can later be extended to other cities too. The move comes after Finance Ministry directed the jewellers to sell gold and ornaments made from it only against customers’ PAN details.

“The person who buys jewellery has to give his PAN number. We are issuing instructions to the field authorities to check with all the jewellers to ensure that this requirement is not compromised. Action will be taken against those jewellers who fail to take PAN numbers from such buyers. When the cash deposits of the jewellers would be scrutinised against the sales made, whether they have taken the PAN number of the buyer or not will also be checked,” Revenue Secretary Hasmukh Adhia had said.

The Centre had on Tuesday demonetised Rs 500 and Rs 1,000 notes in order to check blackmoney, corruption, money laundering, terror financing as well as counterfeiting of currency notes. The Income Tax department had on Thursday conducted multiple surveys in Delhi, Mumbai and other cities in the wake of reports of alleged profiteering and subsequent tax evasion by traders by converting withdrawn currency notes in an illegal manner.

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  1. M
    MyTake
    Nov 11, 2016 at 8:53 pm
    Now the "Poor" people are again going to suffer at the hand of Modi!
    Reply
    1. H
      Heheheh
      Nov 11, 2016 at 3:55 pm
      Kala Dhan, teri chhaiyyan. Bachke jaayega bacchu kahaaaaaannn. Modi aaya, acche din laaya, tera saaya woh dekhe jahaan. Kala dhan. Teri Chhaiyyan.
      Reply
      1. L
        lolakinom
        Nov 15, 2016 at 4:56 am
        Why dont you check cities like Coimbatore and Trichy (Mangal and Mangal) who are pioneers in blackmoney gold s
        Reply
        1. M
          mathimathi
          Nov 11, 2016 at 8:30 pm
          (DGCEI) officials may be gifted with ornaments by jewellery dons to get jewellers clean chit.
          Reply
          1. S
            S Subramaniam
            Nov 11, 2016 at 4:25 pm
            09 Nov 16 be amended to read as 08 Nov 16
            Reply
            1. S
              S Subramaniam
              Nov 11, 2016 at 3:55 pm
              Government should ask for the details of s upto 0800 PM on 09 Nov 16 and thereafter with their records.
              Reply
              1. M
                Mohan Krishnaswamy
                Nov 11, 2016 at 4:03 pm
                in Chennai alone there sre more than 1000 jewellary shops. wat about them?
                Reply
                1. M
                  Mohan Krishnaswamy
                  Nov 11, 2016 at 4:01 pm
                  in chennai alone yhere sre more than 1000 lewellary shops. wat about them?
                  Reply
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