Archive · 24 Sep 2026
Rs 8 Crore Jewellery Stocks Seized From Three Gudur Shops
Officials inspected three jewellery shops in Gudur after receiving information about possible tax evasion.
They found that the shops had more gold and silver than their records showed.
The extra stock was seized temporarily.
Nikitha Jewellery had excess gold and silver.
Manasa Jewellery also had excess gold and silver.
Sri Saravana Jewellery had excess silver.
The shop owners said they had purchase documents with their auditors.
Officials will check those documents and collect unpaid GST if necessary.
Vigilance officials seized gold and silver worth around Rs 8 crore from three Gudur jewellery shops.
Inspections found physical stocks exceeding recorded amounts at Nikitha, Manasa and Sri Saravana Jewellery.
Nikitha Jewellery had excess gold of 4 kg 9 grams and silver of 3 kg 700 grams.
Manasa Jewellery had excess gold of 1 kg 200 grams and silver of 12 kg 50 grams.
Officials will verify purchase documents and may levy GST before returning the seized stock.
- Who
- Vigilance and enforcement officials inspected Nikitha Jewellery, Manasa Jewellery and Sri Saravana Jewellery.
- What
- Officials seized gold and silver stocks worth around Rs 8 crore after finding discrepancies with recorded inventories.
- When
- During surprise inspections late on Wednesday.
- Where
- Three jewellery shops in Gudur, Nellore.
- Why
- The inspections followed information about alleged tax evasion and stock-record discrepancies.
Officials' Position
Shop Owners' Position
Stock discrepancies and tax compliance
Officials' Position
Officials say the physical stock exceeded recorded inventories and will verify whether applicable GST was paid before returning the seized items.
Shop Owners' Position
The shop owners reportedly say they have documents proving the gold and silver were purchased and requested one week to produce records held by their auditors.
- Estimated value seized
- Around Rs 8 crore
- Location
- Gudur, Nellore
- Shops inspected
- Nikitha Jewellery, Manasa Jewellery and Sri Saravana Jewellery
- Nikitha excess stock
- 4 kg 9 grams of gold and 3 kg 700 grams of silver
- Manasa excess stock
- 1 kg 200 grams of gold and 12 kg 50 grams of silver
- Sri Saravana excess stock
- 1 kg 250 grams of silver
- Possible next step
- Officials may levy applicable GST if it was not paid, before returning the stock