Notice Inviting Suggestions
- Document type
- Circular
- Reference no.
- G
- Dated
- Category
- Service Tax Circulars-Year 2006
On Gems & Jewellery Sector
On Gems & Jewellery Sector
An Expert Body has been set up by the Government of India under the Chairmanship of Shri M.R.Sivaraman, former Revenue Secretary, to look into the potential of the gems and jewellery industry and make recommendations including Taxation measures with regard to the holistic development of this sector and to enable India to be a hub for this sector.
The Terms of Reference of the Expert Body are as follow :
(i) Comparative analysis of legislative provisions, rules and regulations governing taxation (direct as well as indirect taxes) in the gems and jewellery industry in countries which have substantial turnover in this sector, and.
(ii) Make recommendations for a taxation system based on best international practices, for the gems and jewellery industry in India, which will:
- a. provide impetus to the growth of this sector and enable India to develop as a hub for this industry,
b. facilitate exports,
c. widen the tax base and secure adequate revenues for the Government,
d. minimize the scope for evasion, and
e. facilitate voluntary compliance.
-
(a) of making India a hub for this sector and
(b) of making domestic trade more transparent and conducive for its orderly growth and for development of skills of Indian craftsmen so that the development in domestic trade could become a catalyst for promoting export of Gems & Jewellery.
All individuals/ associations dealing with import/ export manufacture, wholesale trade, retail trade, etc in gold, gems, diamond and gold, diamonds and studded jewellery are invited to make suggestions on any aspect related to this sector to the undersigned through e-mail.
P.S.Pruthi
Member Secretary
Gem & Jewellery Expert Body
e-mail:-parvinderpruthi@yahoo.co.in
Telefax:- 23092080
Mailing Address:
Room No. 252-B,
North Block
New Delhi- 110001