Gold Smugglers

The annual report for 2021-22 released by Finance Minister Nirmala Sitharaman goes into granular details of how smuggling has massively diversified

The recent gold seizures in the North East by the Directorate of Revenue Intelligence (DRI) indicate a spurt in the smuggling of gold through the NE borders of Bangladesh and Myanmar

Smuggled gold weighing a total of over 4 kg was seized at the airport here in two separate incidents, the Customs department said on Friday

Even as Covid protocols restrict international and domestic transport, the cross border crime syndicates continue to make big money by smuggling truck loads of 'sin goods' into India

India suspended long-distance trains and international flights in March as part of the lockdown of its 1.3 billion population to contain the spread of novel coronavirus

The tax will have to be paid on entire value of gold declared by an individual that has been purchased without any receipt

The report should contain details about official gold imports, its usage in the domestic market, smuggling trends, possible curbs to mitigate the negative impact of gold imports on the trade deficit

The illegal trade could rise further in coming months as India, the world's second biggest gold consumer, raised an import tax on gold by 2.5 percentage points to 12.5% in July's federal budget

Recent cases of gold seizure show that smugglers are opting for the European route and newer modus operandi

Recent cases of gold seizure show that smugglers are opting for the European route and newer modus operandi, says customs officials

Hawala cost down, bars increasingly being replaced with unofficially imported jewellery