The All India Gems and Jewellery Trade Federation (GJF) has welcomed the move of the Government to introduce the tax on commodity trading.
GJF had recommended that this be introduced in their pre-budget recommendations and in the discussions with the government over the last few months.
C Vinod Hayagriv, immediate past Chairman of All India Gems and Jewellery Trade Federation said: " We welcome all efforts that curb trading in gold and silver on the exchanges."
"The Gems and jewellery is a sector that manufactures, provides employment, and allows for forex earning. We are not in favor of allowing indiscriminate trading and falsifying real prices of precious metals. We welcome the introduction of Commodity Trading Tax for precious metals," he said.
All Indian Gems and Jewellery Trade Federation is a national trade federation for the promotion and growth of trade in gems and jewellery across India.
