Hours after the implementation of the model code of conduct for the Lok Sabha elections, the Punjab taxation department claimed to have seized gold and diamond jewellery worth ₹5 crore from a private vehicle.
Additional commissioner of the taxation department Jiwan Jot Kaur, on Sunday, said road checks have been intensified ahead of the general elections, and the present seizure was made during one such naka.
“A team led by state tax officer (STO) Hukam Chand Bansal received a tip-off regarding the transportation of a significant quantity of jewellery from Bathinda to Chandigarh in a private vehicle. After an extensive pursuit, the said vehicle was apprehended near Kalajhar toll plaza at Sangrur-Patiala road on Saturday night. The persons in the vehicle failed to furnish the requisite documents as mandated by the provisions of the GST Act. In the absence of required documentation, the goods were seized on the spot,” Jiwan Jot Kaur said.
She added that preliminary physical verification revealed that jewellery comprised of rings, bangles, choker sets, and necklaces.
“Further investigation is underway to determine the actual value of the goods and validate the accompanying documents,” said Kaur. She emphasised that the concerned firm would face penalties for tax evasion once the evaluation of the gold and diamonds was completed.
{{/usCountry}}“Further investigation is underway to determine the actual value of the goods and validate the accompanying documents,” said Kaur. She emphasised that the concerned firm would face penalties for tax evasion once the evaluation of the gold and diamonds was completed.
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