According to sources the employees of the Joyalukkas jewellery chain were in for surprise on Wednesday morning when they arrived at their stores across India and found sleuths of the Income Tax department at the doorstep. Meanwhile the staff were prevented them from entering their workplace.



Further in a coordinated raid across the two states, I-T sleuths are reported to be investigating the Thrissur based jewelry chain over alleged tax evasion. Accordingly the IT department says that coordinated raids are being carried out in 133 locations across India including Karnataka, Kerala, Pune and Kolkata and so the shops were forced shut, and employees were not allowed inside. Meanwhile eight member team is said to be conducting the raid.

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Furthermore during 2017 January and weeks after demonetization, Joyalukkas was in trouble after it was found that more than 5.7 tonnes of gold jewelry, worth over Rs 1,500 crore, was sold by the chain between April and November 2016, but the company was charged with tax evasion for not paying the mandatory 1% central excise duty applicable since April 1, 2016.

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