Mumbai: A unique modus operandi of multi-crore tax evasion racket by jewellers of Mumbai and other cities has been busted by the Mumbai central commissionerate. The jewellers were transporting gold and other ornaments without paying GST through an aggregator who acted both as consignor as well as consignee to conceal the names of the actual suppliers and receivers.
The aggregator, who acted as a courier agent, used to collect the high value items from the jewellers and claimed them as his own items being transported from one city to another in the declaration made to the concerned airlines.
The goods so transported from Delhi, Chennai, Kolkata and Hyderabad to certain Mumbai-based jewellers without paying the GST included gold bars, gold ornaments studded with diamonds, designer jewellery, and precious stones like Solitaire, rubies and pearls. The total value of goods on which the GST was not paid or undervalued seized in seven consignments turned out to be worth Rs26 crore.
The seizures were made on January 7 at the premises of courier company Concor Air Limited at the Santacruz Air Cargo terminal in Mumbai and the consignments were verified from January 15 to 17. Rajesh Sanan, commissioner, CGST & Central Excise, Mumbai Central Commissionerate, said this unique modus operandi of evading tax using an aggregator has been busted for the first time.
