Jewellers fear DTC may spark tax raids

Gems and jewellery sector feels that it has been singled out in the draft tax code...

The Department of Industrial Policy and Promotion (DIPP) is likely to take up with the Finance Ministry the concerns of the gems and jewellery sector,which feels that it has been singled out in the draft tax code (DTC) for search and seizure by the tax authorities.

A delegation of All-India Gems & Jewellery Trade Federation had met a senior official of the Department of Industrial Policy and Promotion (DIPP) yesterday.

“The DIPP official agreed with us that discrimination between different trades is not advisable. She said the department would make a representation to the Finance Ministry,” a Federation official said.

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According to a provision of DTC,tax authorities can conduct search and seizure operations in any premise. It also empowers an officer to seize stock-in-trade. According to Federation chairman Vinod Hayagriv,this provision is detrimental to the entire gems and jewellery industry because it is discretionary in nature.

The DIPP formulates and implements policies for the industrial sector.

Industry experts opined that the provision of search and seizure ought to be exactly the same way for gems and jewellery trade as it is for all trades.

Yogi Adityanath, Shri Ramswaroop Memorial University, police lathicharge, police lathicharge students, Indian express news, current affairs

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