Keen to allay the apprehensions of jewellers over the 1% excise duty on gold ornaments, the government has promised “zero interface“ with the tax authorities and no inspection of premises after registration “Some jewellers have begun to come forwa rd to register,“ AK Gupta, chief commission er, excise, told reporters on Tuesday. “We ha ve promised them that no one would visit the ir premises.“ Jewellers went on strike after the levy was announced in the Budget.
Chief commissioners of all zones have be en directed by the Central Board of Excise ANIRBAN BORA and Customs to send out a strong message th at there will be no return of the inspector raj Gupta said authorities will also not seek any declaration of stock held before the Budget.
Finance minister Arun Jaitley had on Mon day made it clear that the levy was a precurs or to the goods and service tax (GST), rejecting demands for a roll back. He had proposed the excise duty on jewellers having a turnover of over Rs.12 crore, thereby keeping small manufacturers and job workers out of the tax net. Many states already tax the sector.
Delhi, Assam, Bihar, Himachal Pradesh, Tamil Nadu, Rajasthan and Gujarat levy 1% value added tax on gold jewellery while it's 5% in Kerala.“The day we get your (Congress) blessing and GST will be implemented, then all goods will come under GST and so will gold. This (1% excise duty proposal) is a preparation towards it,“ he said, while replying to a debate on the Budget in Lok Sabha on Monday. This is not applicable on small traders' and there will be no harassment of jewellers by tax officials.
He said clear instructions had been issued to field officers that no inspector will enter the premises of jewellery makers because there is a provision of self-certification.
The Economic Times, New Delhi, 16th March 2016
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