Business Standard

Authorities facing difficulty to identify smuggled gold due to defacing

Myanmar has created several melting units on the borders of West Bengal and North-East solely to hide the identity of these gold bars to evade duty

Gold hits five-year high, crosses Rs 33,000 mark on macroeconomic risks
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Shrimi Choudhary New Delhi
Customs authorities are facing the gruelling task of tracking down syndicators behind smuggled gold from Myanmar.
 
This is because the gold brought to India was being defaced and melted to remove the foreign marking.
 
According to officials, Myanmar has created several melting units on the borders of West Bengal and North-East solely to hide the identity of these gold bars to evade duty.
 
According to a senior official, the Directorate of Revenue Intelligence (DRI) has asked World Gold Council (WGC) to investigate the issue at the global level so that countries would take action against these melting

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