Jul 20, 2018

GJEPC Chairman Raises Sector’s GST Concerns at Meet with Hon’ble Union Finance Minister

GJEPC Chairman Shri Pramod Kumar Agrawal raised the concerns of the gem and jewellery sector at an interaction in Jaipur with Hon’ble Union Finance Minister, Shri Piyush Goyal earlier this week.

The meeting was also attended by Smt. Vasundhara Raje, Hon’ble CM Rajasthan, Shri Rajpal Singh Shekhawat, Hon’ble Industries Minister, Rajasthan, Dr. S. L. Meena, Designated Member of GST Council from State and Chief Commissioner of Central GST and Shri Mukesh Sharma, ACS Finance, Rajasthan among others.

Shri Agrawal was leading a GJEPC delegation at an interactive session between the minister and select leaders of different business segments hosted by the Government of Rajasthan. He was accompanied by GJEPC’s Regional Chairman, Rajasthan, Shri Nirmal Kumar Bardiya and other CoA members Shri Vijay Kedia and Shri Rambabu Gupta.

Voicing the industry’s concerns, the Chairman requested the minister for reduction in the GST on semi-precious gemstones from 3% to 0.25%. He also urged for favourable consideration of the Council’s proposal that duty free precious metals should be supplied to exporters on bond or bank guarantee towards GST amount instead of the current system that requires upfront payment.  He suggested that the procedure followed in such case could be similar to what was earlier followed while collecting duty as a bond.

Pic caption: Hon Union Finance Minister Shri Piyush Goyal addressing the session. Also seen are Smt Vasundhara Raje, Hon CM Rajasthan and other dignitaries.