In a move that aims to set the ball rolling for implementing a comprehensive gold policy, the government has formed a working group to set up a domestic council for the gems and jewellery sector.The group is headed by the joint secretary of the ministry of commerce, Manoj Kumar Dwivedi. “The group has participation from all … Read More →
In a major relief for bullion dealers and jewellery retailers, the government has rescinded applicability of the Prevention of Money Laundering Act (PMLA) on purchases of precious ornaments above of Rs 50,000. In a notification issued on Friday, the Ministry of Finance said, “The government has received representations from various associations in the gems and jewellery sector with … Read More →
The Telangana government has announced a slew of sops, including capital subsidy, to boost the textiles and apparels sector in the state. The sops are part of the Telangana Textile and Apparel Incentive Scheme 2017 announced by the TRS government with an aim to attract investments and generate job opportunities for the local population. According … Read More →
To aid weavers, the Jharkhand government has decided that clothing material for government schools would be purchased from Jharcraft (Jharkhand Silk Textile & Handicraft Development Corporation Ltd.), the state’s textile body. Chief Minister Raghubar Das issued orders to purchase the clothing materials from Jharcraft and end the practice of floating tenders to purchase uniform, blankets … Read More →
Government in Rajya Sabha today refused to budge from its stance on levying one per cent excise duty on non-silver jewellery saying luxury items cannot be kept out of tax ambit for perpetuity, prompting a walk-out by members of the Congress and SP. Tearing into the opposition charge that imposition of the levy was killing the trade, Finance Minister Arun Jaitley refuted … Read More →