Draw back duty from non-branded gold jewelry: CM to Centre

Published By : Admin | March 28, 2012 | 13:23 IST
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Gujarat Chief Minister Narendra Modi has demanded the Centre to immediately draw back one percent excise duty from non-branded gold/other precious stone jewelry and the TDS on the purchase of jewelry over Rs.2 lakh, which was introduced by the Central government in the latest budget.

Referring to the severe indignation of the jeweler fraternity and the representations made before the State government since last few days Mr. Modi said these taxes has resulted into a loss of business of approximate Rs. 16,000 crore in Gujarat alone during last ten days due to the strikes in this sector. Around four lakh skilled workers of the country who were employed in making gold jewelry have become jobless.

Chief Minister stressed that gold-workers do job-work as per the demand of their clients. And so, there is a need to distinguish between job-work and manufacturing. Taking one percent excise duty will once again open the door for ‘Inspector Raj’ in the country. About 90% of the total output of this field comes from small scale sector and thus it is the most employment-giving sector. Chief Minister also demanded to draw back TDS as well as quoting PAN on the purchase of gold jewelry over rupees two lakhs.

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Virtual meeting between PM Modi and PM of Cambodia
May 18, 2022
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Virtual Meeting between Prime Minister Shri Narendra Modi and H.E. Samdech Akka Moha Sena Padei Techo Hun Sen, Prime Minister of Cambodia

Prime Minister Shri Narendra Modi held a virtual meeting today with H.E. Samdech Akka Moha Sena Padei Techo Hun Sen, Prime Minister of Cambodia.

The two leaders held discussions on the entire range of bilateral issues, including cooperation in the fields of trade and investment, human resource development, defence and security, development cooperation, connectivity, post-pandemic economic recovery and people-to-people ties. They expressed satisfaction at the pace of bilateral cooperation.

PM Hun Sen emphasised the importance that Cambodia attaches to its relations with India. Prime Minister Modi reciprocated the sentiment and stressed Cambodia’s valued role in India’s Act East policy. The leaders reviewed the robust development partnership between both countries, including capacity building programmes and Quick Impact Projects under the Mekong-Ganga Cooperation framework. Prime Minister Modi also highlighted the historical and civilizational links between the two countries and expressed his happiness at India’s involvement in restoration of Angkor Wat and Preah Vihear temples in Cambodia, which depict the cultural and linguistic connect between the two countries.

Prime Minister Hun Sen thanked India for providing 3.25 lakh doses of Indian-manufactured Covishield vaccines to Cambodia under Quad Vaccine Initiative.

The two leaders complimented each other on the 70th anniversary of the establishment of diplomatic relations between India and Cambodia being celebrated this year. As part of these celebrations, Prime Minister Modi invited His Majesty the King of Cambodia and Her Majesty Queen Mother to visit India at a mutually convenient time.

The two leaders also exchanged views on regional and global issues of shared interest. Prime Minister Modi congratulated Cambodia on assuming the Chairmanship of ASEAN and assured India’s full support and assistance to Cambodia for the success of its Chairmanship.