GJEPC led by Chairman Pramod Agrawal, Vice Chairman Colin Shah and GJEPC board members met up with Hon’ble Union Minister for Commerce and Industry Piyush Goyal , DGFT Alok Chaturvedi ND Rupa Dutta Economic Advisor MOC to represent the issues and concerns impacting the Gem & jewellery trade.
For bringing ease of doing business in the sector, Following concerns were raised by GJEPC:
- Reduction on import duty on Precious Metal Gold from 10% to 4%
- Reduction on import duty on Cut and Polished Diamond, precious and semi-precious gemstones from 7.5% to 2.5%
- Inclusion of gems and jewellery sector under 3% Interest Subvention Scheme on Pre and Post Shipment rupee export credit
- Issues impeding exports of gems & jewellery from SEZs
- GST related issues pertaining to blockage of input tax credit due to inverted duty rate structure
- Suggestive measure to reduce applicable GST rates on job work and certification charges
- Refund of accumulated tax credit on account of inverted duty structure on input for period prior to 25.02.2018
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