Sri Lanka Customs have raided 13 leading jewellery-making institutions and seized a stock of gold smuggled into the country and a fine of Rs. 4.5 billion is to be imposed in this regard.
There are a few leading jewellery business operators involved in this racket, according to information available.
It is learnt that these business operators have continued to bring gold from India through unlawful means for a long time denying tax revenue to the government.
Daily Mirror learns that there is a sinister move involving some customs officials to underestimate the value of gold stock seized for dubious transactions at the moment.
The customs authorities suspect that gold items have been smuggled in boats from India and payments have been made through unlawful methods.
(Daily Mirror)
