Top jewellers asked to provide gold stock of past 4 days

This is to also check if shop owners have hoarded money as many people started buying gold since Tuesday night.

Published: 12th November 2016 12:49 AM  |   Last Updated: 12th November 2016 12:49 AM   |  A+A-


MUMBAI: The Directorate General of Central Excise Intelligence (DGCEI) has asked top jewellers in the country to provide stock of their gold of the past four days.

“We have asked top jewellers to give us details about opening stock, closing and total sales of that period (past four days),” said an officer from DGCEI today.

The officer said any jeweller not adhering to the directive will face action under the Central Excise act.

“We are carrying out this exercise to ensure the stock used in the past four days were accounted,” he said.

This is to also check if shop owners have hoarded money as many people started buying gold since Tuesday night when the Centre declared demonetisation of Rs 500 and Rs 1,000 notes.

“If we find any irregularity not only will we take action, but will share those cases with other agencies,” said the officer, adding those who have maintained their books genuinely need not worry.

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