EUR 3.3 million tax evasion racket at BOM
The Mumbai Central Commissionerate has unearthed an INR 26 crore tax evasion racket that has been found to be transporting jewellery goods without paying GST.
Certain jewellers situated in various Indian cities were supplying gold jewellery studded with or without precious stones to certain Mumbai-based jewellers without payment of the GST due thereon. The movements were being carried out by certain courier firms through various airlines.
The aggregator used to collect the items and carry them on behalf of these jewellers. In the declaration to the airline, the aggregator acted as consignor as well as consignee, in order to conceal the names of the actual suppliers and receivers.
Seven consignments said to contain gold and gold jewellery were intercepted last month at the premises of Concor Air at Mumbai airport (BOM). (ah)