Thrissur GST Raid: A Dramatic Search Uncovers Over 100 Kilograms Of Hidden Gold

In a groundbreaking operation, the GST department launched a significant gold hunt in Thrissur, mobilizing the largest contingent of officials in Kerala’s history. Officials were covertly assembled under the guise of an excursion after receiving training in Ernakulam. On Wednesday, around 700 officials conducted surprise inspections at 78 locations, including gold jewellery manufacturing units and the residences of owners and key staff members.

During these inspections, many establishments were bustling with customers, who were allowed to exit after their identities were verified. One female employee attempted to escape upon realizing the inspections were underway, leading to the seizure of 6.5 kilograms of gold from her. For seven months, the GST intelligence unit had been monitoring jewellery manufacturers due to suspicions of low-priced sales while evading GST.

The operation’s main goals were not just to confiscate unaccounted gold but also to scrutinize transactions that had gone unreported to the GST department over the past five years, aiming to combat the smuggling of gold in the market.

The operation was meticulously planned, likened to a cinematic script, with insights from Finance Minister K. N. Balagopal and senior officials. Officers received their mission brief just before the raids began, marking this as the largest intelligence operation in the state’s GST history.

Enforcement teams from Ernakulam, Thrissur, and Palakkad, along with GST audit officers from several districts, collaborated in the operation. To maintain secrecy and avoid leaks, over 700 officers were transported to Thrissur using five tourist buses and seven vans labeled as a ‘tourist group’ under the pretense of a local picnic.

This coordinated effort enabled officials to simultaneously raid 75 locations, seizing gold that was not recorded in stock registers, including both under-manufacturing and completed jewellery. The confiscated gold was secured in a treasury locker, with the value of one kilogram estimated at Rs 72 lakh.

Opposition leader V. D. Satheesan had previously raised concerns about tax evasion in the gold market, asserting that Kerala has become a haven for offenders. The finance minister also promised to enhance efforts to increase tax collection, leading to the extensive ‘Torre del Oro’ hunt.