Thrissur GST raid: How did a cinematic hunt uncover over 100 kilograms of unaccounted gold?

Thrissur: In an unprecedented operation, the GST department launched a major gold hunt in Thrissur, involving the highest number of officials in Kerala's history. Officials were brought to Thrissur for the hunt under the pretence of an excursion after receiving training in Ernakulam. On Wednesday, around 700 officials conducted surprise inspections at 78 locations, including gold jewellery manufacturing units and the homes of owners and key employees.

During the inspections, many establishments were busy with customers, who were allowed to leave once their identities were confirmed. A woman employee attempted to flee upon noticing the inspections. Officials seized 6.5 kilograms of gold from her. The GST intelligence unit had been monitoring jewellery manufacturers for seven months due to concerns about them selling gold at low prices while evading GSTs.

The primary objectives of the operation were not only to confiscate unaccounted gold but also to investigate transactions that had gone unreported to the GST department over the past five years. This initiative aims to curb the flow of smuggled gold in the market.

Strategic and cinematic planning for the operation

The operation was described as having been planned with the precision of a movie script, orchestrated by the knowledge of Finance Minister K. N. Balagopal and senior officials alone. The officers were briefed on their mission only moments before the raids began. The finance department officials told Mathrubhumi that this is the largest intelligence operation in the history of the state GST.

The enforcement teams from Ernakulam, Thrissur, and Palakkad districts, along with GST audit officers from Thrissur, Malappuram, Kozhikode, and Wayanad, participated in the operation. To maintain secrecy and prevent information leaks, more than 700 officers were brought to Thrissur under the guise of a training session. Five tourist buses and seven vans, labelled ‘tourist group,’ were used to transport the officials to various business centres in the name of a neighbourhood picnic theme.

The coordinated effort allowed officials to raid 75 locations simultaneously, seizing gold that was not recorded in the stock registers, including both under-manufacturing and completed jewellery. The confiscated gold was secured in a treasury locker, with the value of one kilogram of gold estimated at Rs 72 lakh.

Opposition leader V. D. Satheesan had raised concerns about tax evasion in the gold market, claiming that Kerala has become a haven for offenders. Finance minister also had assured that efforts to increase tax collection would be intensified, following which, the massive ‘Torre del Oro’ hunt took place.