UNMESH GUJARATHI
SPROUTS BRAND STORY

A story similar to a film plot has come to the fore from Mumbai’s Zaveri Bazar. In a search operation akin to Bollywood actor Ajay Devgan’s film “Raid”, the GST department has come across the clandestine affair of black money worth crores of rupees being hidden in the wall in the office of a merchant dealing in gold and jewellery.

As per the information obtained by the special investigating team of Sprouts, in an action against Chamunda Bullion, the GST department has been able to unearth Rs 10 crore cash and 19 kg silver bricks. The Income Tax department has also begun a parallel investigation in this case.

GST department comes across the booty

The GST dept. suspected something fishy when it noted that the turnover of Chamunda Bullion rose from Rs 22.83 crore in 2019-2020 to Rs 665 crore in 2020-2021 to Rs 1764 crore in 2022. As such the GST dept. began the investigation into the turnover of the last three years. In the search of the premises of Chamunda Bullion, the GST dept. came across the cash worth Rs 9.78 crore and silver bricks hidden in the wall.

Further investigations

This drive was undertaken by Joint Commissioner Rahul Dwivedi of the GST department. Now the premises of Chamunda Bullion have been sealed and the Income Tax department has also been provided information about this development. How the company procured the cash and ornaments in alarming proportion is being inquired.

This drive was undertaken by Joint Commissioner Rahul Dwivedi of the GST department. Now the premises of Chamunda Bullion have been sealed and the Income Tax department has also been provided information about this development. How the company procured the cash and ornaments in alarming proportion is being inquired.