Tax on gold News
The Survey said that the GST Council will have to take up these issues in the coming months.
The all-crucial meeting of the GST Council to fix tax rates for goods and services got under way here Thursday, with states pitching for their preferred rates for select items.
Dispelling fears of government action on gold hoarding or jewellery belonging to households, Union Minister Ravi Shankar Prasad, on Tuesday, said that government is not considering any plan to impose tax on jewellery of women.
There is no limit on holding of gold jewellery or ornaments by anybody provided it is acquired from explained sources of income including inheritance
Turning tables on Delhi Chief Minister Arvind Kejriwal, who is supporting jewellers' stir against the imposition of excise duty, Finance Minister Arun Jaitley today said that the Delhi government should first abolish VAT on gold.
A jewellers' association here today temporarily called off its strike following the Centre's assurance that it will review the Budget proposal to impose 1 per cent excise duty on gold ornaments.
Jewellers will go on indefinite strike from Tuesday in protest over the reintroduction after four years of a sales tax on gold jewellery, their trade body said.
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