Customs gold seizure worth Rs 3.76 cr this fiscal | Covaipost
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15 Aug 2018, Edition - 1128, Wednesday

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Coimbatore

Customs gold seizure worth Rs 3.76 cr this fiscal

Covai Post Network

Central Excise and Customs has seized 12.34 kg gold worth Rs 3.76 crore during this financial year, a top official in the GST Commissionerate said today

GST Commissioner (Audit) NJ Kumaresh told mediapersons about the novel method of smugglers and carriers, like the case yesterday, where 816 gm of gold in the size of match sticks was hidden in the handles of five kitchen knives. The department was able to trace the gold through modern scanner and other equipment, he added.

With the seizure of gold ‘sticks’ valued about Rs 25 lakh, the total seizure from April till yesterday amounted to Rs 3.76 crore, he said.The seizure during 2015-16 and 2016-17 was abysmally low at 1.89 kg and 1.87 kg worth Rs 50 lakh and Rs 56 lakh, respectively, he added.

Kumaresh attributed the lower seizure to shift in destinations or alert on intensified checking at the city airport, as the gold being smuggled through Coimbatore was mainly meant for customers in Kozhiode or Kannur in Kerala. The carriers might have alighted at these destinations, he said.The figure was higher at Rs 3.37 crore (12.43 kg) in 2014-15.

COIMBATORE WEATHER