The apprehensions of customs and other enforcement officials that the large-scale gold imports by expats during the last four months happened at the behest of organized rackets have proved right.
The Karipur airport alone had seen gold imports by NRKs to the tune of 4,487 kg in the last four months. The import figures in the airport for January averaged at 45 kg per day.
The gold imports by expats came to an abrupt end on Thursday with the central government making it mandatory for the importers to furnish the source of funds used for gold purchase and also the details of the person who had booked their flight tickets.
"We had reasons to believe that the gold brought in by passengers were actually not theirs. The sudden drying up of gold imports following the new order has confirmed our doubts," a senior customs officer said.
The four passengers who tried to bring in one kg of gold on Friday were apparently unaware of the new order. Their gold was detained by customs since they were unable to furnish the source of funds. Two of them, who reportedly admitted to acting as carriers, subsequently flew back to the UAE taking the gold along with them.
The March 6 order by the customs director has directed the field formations to "ascertain the antecedents of passengers, source for funding for gold as well as duty being paid in the foreign currency, person responsible for booking of tickets etc so as to prevent the possibility of the misuse of the facility by unscrupulous elements who may hire such eligible passengers to carry gold for them".
The order also stated that the engraved serial number of gold bars must be invariably mentioned in the baggage receipt issued by customs.
Enforcement directorate officials had collected details of passengers and had launched a probe after finding that Gulf-based rackets were channeling hawala money transfers to the country. They had also warned that the passengers could face action under the Foreign Exchange Management Act any time in the future if their collision with hawala rackets is established.
According to customs officials, majority of persons who have utilized the gold import facility available for Indians who have stayed abroad for at least six months to legally bring in up to 1 kg of gold after payment of 10% tax, were ordinary low-income employees.
Source:- timesofindia.indiatimes.com
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