A delegation of The Gem & Jewellery Export Promotion Council (GJEPC) held an interactive session with Hon’ble Finance Minister of Maharashtra, Shri Sudhir Mungantiwar at Hotel Sofitel in BKC on November 30. The delegation discussed a number of policy issues that come under the purview of the state government.

The delegation comprised GJEPC Chairman Praveenshankar Pandya, Vice Chairman Russell Mehta, Western Regional Chairman Ashok Gajera, Diamond Panel Convener Sanjay Shah, CoA members Anil Virani, Kirit Bhansali among others. BDB President Anoop Mehta was also present at the meeting.

Some of the key issues which were discussed with the minister included

• VAT Refund – Exporters are incurring additional costs incurred while paying 1% VAT on gold or diamonds for exports upfront and refunds are taking a long time. The procedures followed in other states may be made applicable in Maharashtra so that exporters in the state remain competitive.
• Tax issues of SNZ - Diamond trading at SNZ should be exempted from Octroi and VAT to give impetus to such rough diamond trading in Mumbai.
• Intenational Exhibtion-cum-Covention Centre – State government was requested to collaborate with the Council to build a convention centre in Mumbai where international shows such as IIJS and Signature can be organized.
• Exhibition Permissions – Government was requested to implement a Single Window System for all clearances related to Trade Shows.
• Clarifications regarding Octroi circulars
• VAT Differentiation between Natural Diamond and Man-made Diamond Industries
• SEZ Issues related to Taxation, Labour Flexibility, High PowerTariffs, etc.

Shri Mungantiwar promised to look into these issues and assured the industry of the support of the government at all times.