4 held for tax evasion worth Rs 73 lakh in Raj

The Directorate of Revenue Intelligence (DRI) has arrested four persons here for committing economic offences in the name of exporting gold jewellery.
The accused imported 25 kg gold duty free in the last eight months claiming to use it for manufacturing and exporting jewellery.
"Instead, they used only 10 per cent of the gold in the jewellery and the remaining 22.5 kg gold was used by them in the domestic market," a DRI official said.
"By doing this, they evaded tax of Rs 73 lakh," he added.
The DRI team examined papers and got some pieces of jewellery, which were being exported, tested which confirmed that only ten per cent gold was used.

The accused identified as Rajesh Verma, Devendu Das, Sunia Dahiya and Sandeep Jain were arrested yesterday and were subsequently sent to judicial custody by a court, DRI's additional Director R K Mishra said.
Gold is duty free if imported for manufacturing gold ornaments for the purpose of export whereas the duty is imposed if the gold is imported to be used in the domestic market.