Sony Dtc
GJF seeks review of the changes in DTC proposals
The All India Gems and Jewellery Trade Federation (GJF) has asked the Ministry of Finance, the changes proposed in the review direct taxation code (DTC) proposals with a view to safeguarding the interests of SMEs and large jewelers in the industry. "Some of the changes proposed in the DTC would adversely affect the small gems and jewelry units. Therefore, it is necessary for the Ministry of Finance is to consider his proposals, DTC for the greater benefit of the industry, "said Vijay Soni, owner Mahabir Jewellers, a medium-sized wholesalers for gold and diamond jewelry in Kundan jadau Kolkata. The Federation has been engaged in jewelry-making business in India recently launched a representation to the Treasury, it urges provisions such as tax burden to exclude based on value of assets and distribution of the tax deducted at source (TDS) on all payments for the supply of goods and seizure of shares in trade. "Because the SME-dominated industry gems and jewelry on thin margins with high inventory levels, introduction of 2% tax on gross assets and Seizure of the entire stock in trade has disrupted the business would many small units, and thereby block the growth of the industry, " B said Bhattar, director of the Bhattar & Sons, a small-scale jewelry store in Kolhapur, Maharashtra. GJF is at 10% tax on all payments for gold, Diamonds and jewelry states, in contrast, that such a proposal would impede the flow Working capital for the industry, the more important before a liquidity squeeze. For more details on Business Directory log on http://www.bizxchange.in/
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