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Arun Jaitley – Excise duty on Gold jewellery first priority towards goods and services tax

New Delhi: Union  Finance Minister Arun Jaitley addressing a  press conference in New Delhi on Sunday. PTI Photo by Atul Yadav(PTI3_20_2016_000060A) *** Local Caption ***

On Thursday – Finance Minister,  Arun Jaitley, apprised the parliament  that the government is not prepare for a roll back of the offered Levy. he informed the parliament that It is no longer possible to keep a luxury item like gold outside the range of tax indefinitely.

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Arun  Jaitley made it very clear that levying of 1 per cent tax is the first priority towards the much expected goods and services tax (GST).
he said even the manufactures of common consumption items pay excise duty and gold jewellery cannot be excluded.  makers of pencils, pens, pen , papers, ink and soap pay excise duties. Even the artificial jewellery manufactures have to pay 6 % duty.

 

 

Filed in: MCX India

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