Financial Daily from THE HINDU group of publications
Monday, Aug 02, 2004
Financial Daily from THE HINDU group of publications Monday, Aug 02, 2004 |
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Industry & Economy
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Gems & Jewellery GJEPC wants Delhi to exempt gold from first point tax levy Our Bureau
New Delhi , Aug. 1 THE Gems and Jewellery Export Promotion Council (GJEPC) has urged the Delhi Government to exempt the supplies of gold to the jewellery exporters from the purview of the first point tax proposed in the recent Finance Bill. The Delhi Government, in its recent Finance Bill, has proposed to bring gold under the first point tax scheme. The GJEPC has held that the implementation of such a scheme on the gold supplies to jewellery exporters would make the bullion traders and jewellers including gold jewellery exporters pay the tax before manufacturing the jewellery. In a memorandum to the Delhi Chief Minister, Ms Sheila Dikshit, and the Finance Minister, Mr A.K.Walia, the convenor of the GJEPC (Northern Region), Dr Rajendra Bhola, has said that gold jewellery exports are contributing major share of the gold exports from Delhi. He held that the imposition of any such levy or delay in issue of an exemption notification by the Delhi Government would not only halt the gold jewellery exports from Delhi, but also affect thousand of skilled and semi-skilled workers and artisans employed by the jewellery exporters in Capital.
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