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Our Bureau

New Delhi, April 10

The Government has constituted an expert committee to look into the potential of the gem and jewellery industry and come up with recommendations to enable the country to become a hub for this sector. The committee, headed by former Revenue Secretary, Mr M.R. Sivaraman, would look into the prevalent taxation practices in the gem and jewellery sector in the country and abroad. An official release said that the committee has been mandated to undertake analysis of legislative provisions, rules and regulations governing taxation in the gems and jewellery industry in countries that have substantial turnover in the sector. It would make recommendations for a taxation system based on best international practices to provide impetus to the growth of this sector. The committee is expected to submit its report by September 30 this year.

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