All Kerala Gold and Silver Merchants Association State President K. Surendran and General Secretary Adv. S. Abdul Nazar alleged that the GST raid on the gold trading sector was untimely and aimed at disrupting the Onam trade
Even a newly opened gold trading shop was raided and insulted last week. Only a nominal excess weight of gold was found in the establishments inspected.
They said that the fact that tax evasion worth crores of rupees was discovered by making it a mountain is a case of shooting and shooting and is meant to shut down the gold trading sector.
They demanded that the information found in the inspection, which was attended by about 200 officials, be disclosed along with accurate figures.
They demanded that the approach of losing existing trade should not be adopted in the situation where trade has decreased due to the increase in gold prices.
The association asked the government to disclose the annual turnover and tax revenue from the gold trading sector.
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