Officers attached to the Directorate of Revenue Intelligence (DRI) seized 32.249kg of gold worth over LKR 240 million in Chennai. The gold was being smuggled from Sri Lanka through coastal Tamil Nadu into India.
The previous year itself saw DRI Chennai Zonal Unit seizing more than 105 kg of gold smuggled via Sri Lanka through the Tamil Nadu coast. Apart from the enforcement measures, the DRI has also taken up the issues of smuggling and other customs related matters at the policy level during the 28th Indo-Sri Lanka high level talks at New Delhi in February this year.
As a result, both administrations had firmly resolved to combat smuggling. The Sri Lanka Customs and the Sri Lankan Navy have also stepped up efforts to curb smuggling of gold, narcotics, and other contraband.
The Ministry of Finance imposed a 15% tax on its value on gold in Sri Lanka last month due to rising concerns of gold being smuggled out of the country after detecting a rapid spike in duty-free gold imports in recent months.
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