Gold Tax

There was meticulous planning at the top level before conducting the massive raids on gold jewellery manufacturing units by Kerala GST officials in Thrissur district, aimed at uncovering unaccounted gold linked to tax evasion, official sources said on Friday. The two-day-long massive searches were carried out by around 700 officials from the state's GST department at gold jewellery manufacturing units across the central Kerala district, seizing 104 kg of unaccounted gold after extensive preparations and planning to ensure that there were no loose ends, they said. The operation was planned and implemented with the full support of state Finance Minister K N Balagopal, an official source told told PTI. Around 700 officers were summoned to gather at two locations on Wednesday (October 23) and then transported in tourist buses labelled as study tours to various sites in Thrissur. A senior GST official involved in the operation, named "Torrel del Oro," said, "We opted for tourist buses t

Russian President Vladimir Putin on Wednesday signed a law that exempts individuals from value added tax (VAT) on the purchase of gold.

The tax will have to be paid on entire value of gold declared by an individual that has been purchased without any receipt

While the government has not made the report public, sources said the panel had recommended a sharp cut in all taxes on the gold business