Page 5 - Gold Smuggling

Travel curbs in India thwart gold smugglers; boost premium legal imports

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

Covid-19 outbreak: No gold seizure by Customs in April amid lockdown

A recent study by the WGC said global gold demand during the Jan-Mar quarter grew just 1% to 1,083.8 tonnes

Airports to railway stations: Gold smuggling peaks in India as prices climb

Illegal inflows have jumped after the Indian government increased import taxes in July and prices surged to record highs in September.

Nepal's increased bullion import duty to help India reduce smuggling

Smuggling of gold via Nepal borders was not only affecting India but also Nepalese jewellers

Spike in gold smuggling via SEZs under lens; PMO seeks Customs report

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

Indian economy loses Rs 1.17 trillion due to smuggling, says study

The study measures the impact of smuggling in five areas - textiles, tobacco products, readymade garments, capital goods, and consumer electronics - taking into consideration their backward and forwar

India's seizures of smuggled gold jumps in June quarter: Official

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

Customs department seizes 23% more illegal consignments of gold in Q1

Experts cite higher import duty as reason for rise in smuggling

Gold smuggling in India slows due to election seizures of cash, bullion

Last month in Mumbai, in one of the biggest seizures since the current election was announced on March 10, the Directorate of Revenue Intelligence seized 107 kg of gold, worth about Rs 30 crore

Authorities facing difficulty to identify smuggled gold due to defacing

Myanmar has created several melting units on the borders of West Bengal and North-East solely to hide the identity of these gold bars to evade duty

Cops steal seized gold worth Rs 3 crore, flee after smugglers file FIR

The smugglers reported the incident on February 4 and a case was registered under relevant sections against them, police commissioner Deepak Kumar said

Breaching borders and beating tax, India's gold smugglers get creative

The Directorate of Revenue Intelligence arrested four people last week for smuggling in 66 kilograms of gold, worth about Rs 210 million rupees, and seized fours cars.

Jewellers find new way to bypass tax authorities and launder smuggled gold

Consumers here are taking a bigger risk

Singapore Airlines crew member held at Delhi Airport for smuggling gold

An investigation is underway on the matter

DRI seizes 50-kg gold in courier at Mumbai International Airport

On Wednesday,the Air Intelligence Unit retrieved 4.7 kg of gold from an Air India aircraft parked in the hangar of the Mumbai Airport.

2 kgs of gold found abandoned in Singapore-Chennai Air India flight

They said sanitation staff found the gold abandoned in a seat while cleaning the aircraft

Tightened rules leads to surge in gold smuggling cases by 400%

About 148.71 kg gold worth Rs 40 crore were smuggled between April and September in Mumbai airport alone

Gold smuggling may rise as festive buyers try to avoid new tax: Jewellers

Indian gold demand typically rises in the last three months of the year as consumers buy more for the wedding season as well as for festivals such as Diwali and Dussehra

Amid GST transition, gold smuggling in India seen rising: WGC

Hike in sales tax effectively lifted margins for "grey market" operators, says WGC India MD

Major decline in gold smuggling cases after demonetisation: Customs

'We have caught a lot of people based on intelligence input', officials said