BHOPAL: The
gems and jewellery trade
is in the advanced stage of development of the software needed for
GST implementation
slated to put into effect from July one this year.
"The
software development
for GST implementation in the gems and
jewellery trade
is almost complete. Now the jewellers across the country would be educated about the various aspects of the software through webinars," Nitin Khandelwal, chairman of Gems and
Jewellery Trade Federation
told reporters here on Monday.
The federation welcomed GST but at the same time expressed concern about some aspects, which if not addressed would affect the entire industry. The trade had sought a GST levy of 1.25 per cent. "If the rate is fixed above that, then there will be chaos and non-compliance. We are still discussing the issue with the government."
The other concern was that the 'karigars' (workmen) were required to register with GST if they receive Rs 20 lakh per year.
"We are demanding that the limit be raised to Rs 50 lakh per year," he said. About adoption of digitalisation by the trade, he said that 75 per cent of the transactions had shifted to the digital mode and the balance was in cash. The trade had also urged the government for waiver of charges on transaction made through debit or credit cards.The industry had organised a three-day networking meeting of preferred manufacturers of the country here.
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