GJF De­mands Uni­form 1% GST Rate For Jew­ellery

Solitaire - - SPECTRUM -

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.

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