Bizbits

Diamond traders down shutters

MUMBAI: More than 2.5 lakh diamond exporters today shut down business for a day in protest against the Maharashtra sales tax authorities8217; raids on their premises. Jatin Mehta member of the Gem and Jewellery Export Promotion Council, said that since sales tax is charged on the jewellery sold by the jewellers, there was no justification in charging another sales tax on exporters. In Gujarat and Rajasthan, the levy on loose diamond had been withdrawn, he said.

Nasscom supports IT India 8217;98 expo

MUMBAI: The apex body of the Indian software industry, Nasscom, has confirmed its association with Business India Exhibitions and Ziff Davis for this year8217;s IT World/ Comedex India. The event will be held from December 2 to December 5 at Pragati Maidan, New Delhi, a press release from Business India Exhibitions confirmed. This is also the tenth year of Nasscom8217;s existence. Nasscom8217;s executive director, Dewang Mehta, said the association would facilitate Indian and foreigncompanies participating in the show to create joint ventures, strategic alliances and distribution channels in India.