GJF seeks 1.25% GST on gems and jewellery sector

GJF seeks 1.25% GST on gems and jewellery sector

All India Gems and Jewellery Trade Federation (GJF) has proposed GST rate of 1.25% for the gems and jewellery sector in their representation.

GJF, which is the national trade body for the promotion and growth of trade in gems and jewellery across India, has met Finance Minister Arun Jaitley, Revenue Secretary, more than 15 state finance ministers, VAT and GST Commissioners and many other Government bureaucrats for GST concerns over the past few months.

A working committee, headed by tax research unit (TRU) director Reyaz Ahmad, has been formed to prepare a report on gems and jewellery industry and their concerns. GJF has apprised the potential issues through its representation, which includes Harmonised System Nomenclature (HSN) codes, wherein the federation has sought a single four-digit code 7113 for the articles of jewellery as well as supply of services by job workers. The trade body has also sought the exclusion of job workers from the purview of GST.

“While we welcome GST, we request the GST Council to kindly recognise the practical issues faced by the sector as highlighted in the high level committee (HLC) report before making any decisions,” GJF past chairman and HLC member Ashok Minawala said.

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