GJF Demands Uniform 1% GST Rate For Jewellery
The All India Gems & Jewellery Trade Federation (GJF) urged the union government to implement a uniform 1% Goods & Services Tax (GST) across the entire gems and jewellery sector to bring all jewellery manufacturers under one umbrella. The association said this action will also help the gems and jewellery sector to promote the ‘Make in India’ concept at a grass-roots level and help in getting the sector more organised.
Addressing the GJF’s 10th annual general meeting, GJF chairman Sreedhar G.V. said, “We will be happy if the government announces the implementation of 1% GST on the gems and jewellery GJF chairman Sreedhar G.V. speaking at the annual general meeting. sector to place the sector under unified umbrella and get it more organised. In fact, the proposed gold monetisation scheme can be successfully implemented once the industry comes under the organised sector and we, at GJF, are keen to support the government policy measures.” GJF former chairman Haresh Soni, director Ashok Minawala and regional chairmen were also present at the meet.
During 2014-15, GJF initiated over 50 events across India on behalf of the various constituents and stakeholders of the gem and jewellery industry. GJF delegations met prominent personalities including the union finance minister, members of parliament and also initiated several awareness initiatives through apex associations such as the GJEPC and FICCI. GJF also organised several buyer-seller meets, regional leadership summits, B2B exhibitions and awards functions in different parts of India.
The GJF reiterated its demand for the status of National Gems & Jewellery Council, citing its focus on education, capacity-building, compliance, benchmarking, and imagebuilding for the gems and jewellery industry over the past 11 years.