3/10/2017 Levy1.

25percentGSTrateonjewelleryindustry:GJFTheEconomicTimes

ETHome Industry Cons.Products Fashion/Cosmetics/Jewellery SearchforNews,StockQuotes&NAV's

SENSEX NIFTY50 GOLD(MCX)(Rs/10g.) USD/INR DownloadET CHOOSE

04:05PM|09MAR CREATE LANGUAGE
PORTFOLIO MARKETSAPP
MARKETSTATS 28,929 27.19 8,927 2.70 28,453 176.00 66.71 0.03 ENG

Levy1.25percentGSTrateonjewelleryindustry:GJF
ByPTI|Updated:Nov07,2016,08.10PMIST PostaComment

MUMBAI:AjewellersbodytodaydemandedthattheGSTrateonthejewellerysectorshould
be1.25percentifthegovernmentwantstheindustrytobe"compliantandorganised".

"WearenowgearingupforGSTandhaveproposedthattheGSTrateforthegemsand
jewellerysectorshouldbe1.25percentifthegovernmentexpectstheindustrytobe
compliantandorganised,"AllIndiaGemsandJewelleryTradeFederation(GJF)Chairman
SreedharGVsaidinarelease.

Adelegationofthejewellers'bodytodaymetMaharashtraFinanceMinisterSudhir
MungantiwaratNagpurandsubmitteditsrepresentationonGoodsandServicesTax(GST).
GJFDirectorandMemberHighLevelCommittee(HLC)Ashok
Minawalasaid,"TheHLCReport,whichwasunanimously
GJF,hesaid,willsendtherepresentationtoUnionFinanceMinisterArunJaitleyonGST,
acceptedbythegovernment,waspreparedaftertakingthe
highlightingvariousconcernsofthesector. suggestionsandrecommendationsfromover60associations
ofIndiaintoconsideration."

"Wehavebeenconstantlyhighlightingvariouscontentiousissuessuchassmugglingofgold
andincreasingPANcardlimitforpurchases,lackofhallmarkinginfrastructureandhigh AssemblyElections2017:
Customsdutiesonrawmaterialgold,"headded. ExitPolls:NostoppingModiinUP,Rahulbrings
Akhileshdown

GJF,hesaid,iscloselyevaluatingtheimplicationsofModelGSTLawandhasalready
startedmappingthebusinesspractisesofthesectorwiththeModelGSTLawandDraftGSTRules.

GJFDirectorandMemberHighLevelCommittee(HLC)AshokMinawalasaid,"TheHLCReport,whichwasunanimouslyacceptedbythe
government,waspreparedaftertakingthesuggestionsandrecommendationsfromover60associationsofIndiaintoconsideration."

"Keepinginmind,theuniquecharacteristicsofthegemsandjewellerysector,thekaarigharsandsmalljewellerswerekeptoutofpurview
oftheExciseDuty.Therefore,whilewewelcomeGSTwerequesttheGSTCounciltorecognisethepracticalissuesfacedbythesectoras
highlightedintheHLCreport,"Minawalaadded.

StayontopofbusinessnewswithTheEconomicTimesApp.DownloaditNow!

LiveMarket News Portfolio Mobile LiveTV Newsletter Commodities Speed QnA Blogs Alerts RSS

OtherTimesGroupnewssites Livingandentertainment HotontheWeb Services

TimesofIndia | Timescity | iDiva | Zoom | LiveExitPolls2017 | Mayawati ads2book | Gadgetsnow | FreeBusinessListings
| MumbaiMirror Luxpresso | Gaana | Happytrips | AkhileshYadav | IncomeTax Simplymarry | Astrospeak | Timesjobs | Magicbricks | Zigwheels | Timesdeal |
Cricbuzz | GetSmartapp calculator dineout | Filmipop | Remit2india | Gaana | Greetzap | Techradar | Alivear |
TimesNow | Indiatimes
IncomeTaxSlabs | Sensex GooglePlay
| Elections2017
 | Lifehacker
Networking
Gizmodo | Eisamay | IGNIndia itimes | MensXP.com
NavGujaratSamay

Aboutus / Advertisewithus / TermsofUse&GrievanceRedressal / PrivacyPolicy / Feedback / Sitemap / CodeofEthics / / Disclaimer Copyright2017Bennett,Coleman&Co.Ltd.Allrightsreserved.

http://economictimes.indiatimes.com/industry/consproducts/fashion/cosmetics/jewellery/levy125percentgstrateonjewelleryindustrygjf/printarticle/55295499.cms 1/1