Currency Ban: Jewellers shut shops for 12th day after I-T survey

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Gold and jewellery establishments in the national capital remained closed for the 12th day today after the Income Tax Department conducted surveys following reports of alleged profiteering and tax evasion by traders and other operators in reported conversion of demonetized notes.
According to a PTI report: The survey operations were carried out on November 10 in at least four locations in Delhi-NCR region, including Dariba Kalan, Chandni Chowk and Karol Bagh.
The Government on November 8 announced the demonetization of Rs 500 and Rs 1,000 notes to flush out black money.
Most of the jewellery houses have been closed since November 11 in the national capital.
According to the sources, the officials of Directorate General of Central Excise Intelligence (DGCEI), an arm under the Finance Ministry, has sent notices to these jewellers seeking details of the gold sales.

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