A jewellers body on Monday demanded that the GST rate on the jewellery sector should be 1.25 per cent if the Government wants the industry to be ‘compliant and organised’.
“We are now gearing up for GST and have proposed that the GST rate for the gems and jewellery sector should be 1.25 per cent if the Government expects the industry to be compliant and organised,” All India Gems and Jewellery Trade Federation (GJF) Chairman Sreedhar GV said in a release.
A delegation of the jewellers’ body on Monday met Maharashtra Finance Minister Sudhir Mungantiwar at Nagpur and submitted its representation on Goods and Services Tax (GST). GJF, he said, will send the representation to Union Finance Minister Arun Jaitley on GST, highlighting various concerns of the sector.