GST ahead upon its arrival demanding various industries to be vigilant in their case as in latest scenario, All India Gems and Jewellery Trade Federation (GJF) Chairman Sreedhar G V stated that, “We are now gearing up for GST and have proposed that the GST rate for the gems and jewellery sector should be 1.25 per cent if the government expects the industry to be compliant and organised.”
In this regard, a delegation of the jewelers’ body met the Maharashtra Finance Minister Sudhir Mungantiwar at Nagpur and applied for their demands with all their logic and conscience.
GJF Director and Member-High Level Committee (HLC) Ashok Minawala said, “The HLC Report, which was unanimously accepted by the government, was prepared after taking the suggestions and recommendations from over 60 associations of India into consideration.”
“Keeping in mind, the unique characteristics of the gems and jewelry sector, the Kaarigars and small jewelers were kept out of the purview of the Excise Duty. Therefore, while we welcome GST we request the GST Council to recognize the practical issues faced by the sector as highlighted in the HLC report,” he added.
