KADAPA: There are reports of unaccounted gold worth between Rs 2 crore and Rs 5 crore being sold in Kadapa district every month without any bills or receipts.
Proddatur is the second-largest gold market in the district.
Gold jewellery is brought here from Chennai, Bangalore, Coimbatore, and other places without paying any taxes. The same is sold at open market price, with traders making huge profits in the process. Such illegal trade has not subsided despite frequent raids by police.
For example, in April 2019, Yerraguntla police seized 5.7 kg of gold biscuits from a man. In September of the same year, police seized 2-kg gold from a person in Proddatur. Another 700 grams of gold and 31 kg of silver jewellery were seized from two persons in October. Those carrying the gold and jewellery could not produce any receipts. Police handed them over to officials of the Commercial Taxes Department.
Recently, Proddatur and Jammalamadugu police again seized 5.6 kg of gold…