Notices to jewellers over transaction details

HYDERABAD: Directorate General of Central Excise Intelligence (DGCEI) served notices to 15 big jewellers in Hyderabad asking them to furnish transaction details for the past four days.
As part of the nationwide scrutiny on bullion trade at jewellery stores following the demonetisation of 500 and 1,000 notes, DGCEI team serviced notices to 15 prominent jewellery stores located at Punjagutta, Basheerbagh, Malakpet and Secunderabad.
Among the 15 prominent jewellers who were served with notices under section 14 of the Central Excise Act, 1944, were Kalyan Jewellers, Khajana jewellers, Malabar jewellers, Musaddilal jewellers and TBZ jewellers. "We have asked the jewellers to provide details of their business transactions for the past four days," an officer who participated in the operation told TOI. Serving of notices in city is part of nationwide operation carried out by DGCEI to find out if black money has been used to purchase gold. DGCEI served notices to over 600 jewellers on Friday across the country.