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GJF wants GST on jewellery to be capped at 1.25%
Highlights
Hyderabad: Telangana Finance Minister Eatala Rajender assured traders of smooth transition into the Goods and Services Tax reform in an interaction with a delegation of All India Gems & Jewellery Trade Federation (GJF) here on Sunday.
Hyderabad: Telangana Finance Minister Eatala Rajender assured traders of smooth transition into the Goods and Services Tax reform in an interaction with a delegation of All India Gems & Jewellery Trade Federation (GJF) here on Sunday.
The Federation members informed the Finance Minister that gems and jewellery business has a turnover of nearly Rs 3 lakh crore and they were contributing 6 per cent to GDP.
The Gems and Jewellery industry wanted the GST on finished jewellery to be capped at 1.25 per cent and requested Rajender to take up the matter to the Central Governments notice.
The Finance Minister advised the traders to pay taxes on time and warned the traders against adapting to illegal means for tax evasion.
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