Implement uniform 1% GST for jewellery sector: GJF to govt

Jewellers today urged the government to implement uniform one per cent Goods and Services Tax (GST) across gems and jewellery sector, which will bring all manufacturers under one umbrella.

This will also help in getting the sector more organised, All India Gems and Jewellery Trade Federation (GJF) said in a release issued here.

"We will be happy if the government announces the implementation of one per cent GST on gems and jewellery sector to place the sector under a unified umbrella and get it more organised," GJF Chairman Sreedhar GV said at the AGM of the Federation.

In fact, he said, the proposed gold monetisation scheme can be successfully implemented once the industry comes under the organised sector.

"As an apex body, we are in touch with Gems and Jewellery Export Promotion Council (GJEPC) to promote jewellery exports by creating exclusive jewellery manufacturing hubs in the country", he said.

GJF is the national nodal and the largest single trade body in India for promotion and growth of trade in gems and jewellery across India.

It represents over 6,00,000 players comprising manufacturers, wholesalers, retailers, distributors, laboratories, gemologists, designers and allied services to the domestic gems and jewellery industry.