Since ages, in our country, purchase of gold, silver bullion and jewellery have been looked as an investment and not expenditure or goods for use and consumption. Bullion and jewellary should not be look as a commodity said B C Bhartia, National President Confederation of All India Traders (CAIT). He was speaking at a meeting organised by Team CAIT Nagpur to discuss about opposition to possible increase in rate of GST on bullion gold and silver jewellary by GST Council in its next meeting. Team CAIT Nagpur and Nagpur Svarnakar Sangh members had called a meeting in which B C Bhartia was speaking. Bhartia further said that there are many instruments for investment like share, insurance, mutual fund etc.

 

GST is not applicable in any of these products. On the same lines gold, silver and bullion should be kept out side the purview of GST, he said. Rajkumar Gupta Convenor of Jewellary Team CAIT Maharashtra, raised the issue of challenges being faced by jewellery industries as whole. Dharashivkar, President of Team CAIT Nagpur, said that because of various policies of Government, the jewellery trade has faced losses and damages.He said that Team CAIT Nagpur will submit a detailed memorandum to Government in this regard. Shyam Shukla, Sona-Chandi Old Committee Sarafa Bazar, Nagpur said that the Government policies regarding jewellery trade is supporting show rooms and corporates. Mannubhai Soni of Bhartiya Svarnakar also expressed his views.

 

Manoj Lunawat President Nav Yuwak Sarafa Association, Sudhakar Baitule, National President Bharatiya Svarnakar Samaj, Dhanraj Ujjankar, Jaykishan Lalwani, Omkareshwar Gurav, National General Secretary of Jeweller Association, Bhartiya Svarnkar Samaj, Sarang Dabade, Amol Gurav, Tajas Dhure, Prashant Karwade, Dinesh Yevale, Rakesh Yerpude, Working Secretary Samaj President etc. were present on the occasion.