The Kerala goods and services tax department unearthed sales suppression worth over Rs 100 crore in a major operation codenamed 'Arkenstone' after raids in jewellery shops in Thrissur, officials said on Friday.
The raids, which began at 4.30 pm on Aug. 26 and concluded the next day, were carried out by around 200 officers from the State Goods and Services Tax Intelligence and Enforcement wing, the Additional Commissioner of GST said in a statement.
Simultaneous searches were conducted at 42 locations, including the establishments and residences of 16 jewellery traders in the central Kerala district.
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During the operation, 36 kg of unaccounted gold stored illegally was seized, officials said. From initial findings, the department has already recovered over Rs 2 crore in tax and penalties.State GST Commissioner said strict action would continue against those involved in tax evasion.
The operation was named 'Arkenstone' after the precious jewel in JRR Tolkien's children's fantasy novel, 'The Hobbit'.
Last year, in a similar drive codenamed 'Torre del Oro'—after the Golden Tower of Seville in Spain—the department had raided 75 places in Thrissur, seizing 105 kg of unaccounted gold from 35 jewellery firms.
Thrissur is a major hub of jewellery manufacturing and designing in Kerala, GST officials added.
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