Is GST leading to an increase in illegal gold trade?

Before the implementation of the goods and services tax (GST) on gold, it was widely feared that an increase in the tax rate would boost smuggling of the yellow metal, as traders would be tempted to evade tax. From the looks of it, those fears are coming true. Illegal business in gold has become widespread ever since GST has kicked in, points out Ahammed M.P., chairman of Malabar Gold an…