The Live Nagpur
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Featured
  • Crime
  • Entertainment & Lifestyle
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary

The Live Nagpur

  • Home
  • City
  • Politics
  • Business
  • Education
  • Entertainment
  • Sports
  • Health
  • Crime
  • Forest
  • Featured
  • Vidarbha
Business

Buying Jewellery is an Investment , not an Expenditure : B.C.Bhartia

by TLN Team November 27, 2021November 27, 2021
written by TLN Team November 27, 2021November 27, 2021
Buying Jewellery is an Investment , not an  Expenditure : B.C.Bhartia

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 organized 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.

          Rajkumar Gupta Convenor of Jewellary TEAM  CAIT Maharashtra  raised the issue of challenges being faced  by Jewellery Industries as whole. He said that because of abnormal increase in prices of Metal. Jewellery industry is facing loss of customer. Now if the rate of GST is incrased  it will be not only justifiable but will also damage this business. Kishor Dharashivkar President of TEAM CAIT Nagpur said that because of various policies of Govt.,the jewellery trade has faced losses and  damages. 

The jewellery business have not come out of the trauma of Hallmark. Now increase in GST is justified, it will add fuel to the loss in jewellery sector. He said that TEAM CAIT Nagpur will submit  a detailed  memorandum to Govt. in this regard.  Shri Shyam Shukla Sona-Chandi Old Committee Sarafa Bazar, Nagpur said that the Govt. policies regarding jewellery trade is supporting show rooms and corporates. Business of retail trader have already suffer because of show rooms Shri Mannubhai Soni of Bhartiya Svarnakar Samaj said that GST is not a product of use by common persons but it is an investment.

Shri. Manoj Lunawat President Nav Yuwak Sarafa Associaton said that executive rate of taxation may lead ton illegal and illegitimate trade. Sudhakar Baitule National President Bharatiya Svarnakar Samaj said that goldsmith business is as it is seeing fall. Many goldsmith are going out of business. If rates of taxes of gold & silver jewellery are incrased it may put may prsons out of job. It will effect employment in this sector. Vinod Gupta secretary of TEAM CAIT Nagpur. Proposed Vote of Thanks.

Those prominently present were Dhanraj Ujjankar, Jaykishan Lalwani, Omkareshwar Gurav, National General Secretary of Jeweller Assocation, Bhartiya Svarnkar Samaj, Sarang Dabade, Amol Gurav, Tajas Dhure, Prashant Karwade, Dinesh Yevale, Rakesh Yerpude,  Working Secretary Samaj President etc.

0 comment
FacebookTwitterLinkedin
TLN Team

previous post
Boss warns employee on charging phones at workplace, referring it to as ‘electricity theft’
next post
Passenger services between Jhansi Rani Square Metro Station to Sitabuldi Interchange Metro Station to be suspended from Dec 1

You may also like

Butibori Manufacturers Association to observe no-honking day on...

July 2, 2022

VIA to organise “Plant Based Foods Export” Workshop...

July 2, 2022

Withdrawal of GST exemption on Room Tariff will...

June 30, 2022

VIA-LEW organized program on Recent changes in Income...

June 30, 2022

Seminar on amendments in GST and compliances in...

June 30, 2022

GST new rates, check list of items, services...

June 30, 2022

Isha Ambani to become chairman of Reliance conglomerate’s...

June 29, 2022

Power Deptt, Adani group sign MoU, Generation of...

June 28, 2022

Mukesh Ambani resigns as Director of Reliance Jio

June 28, 2022

Session on  Succession Planning, Will, recent changes in Income...

June 26, 2022

Trending News

  • India logs 17,070 new COVID cases in last 24 hours

    July 1, 2022
  • Rise in COVID cases, India reports 18,819 positive in last 24 hours

    June 30, 2022
  • First batch of pilgrims leaves for Amarnath Yatra

    June 30, 2022
  • India bans single use plastic, to be in effects from July, check list of ban items

    June 28, 2022
  • Drop in COVID cases, India detects 11,739 positive in last 24 hours

    June 26, 2022

Important Links

  • Politics
  • Crime
  • Business
  • Education
  • Entertainment
  • Sports

Available on Playstore & Coming Soon on Appstore

Search

November 2021
M T W T F S S
« Oct   Dec »
1234567
891011121314
15161718192021
22232425262728
2930  

Sign-Up Form

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

Footer Logo
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Featured
  • Crime
  • Entertainment & Lifestyle
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary
  • Privacy Policy
  • Disclaimer
  • Cookie Policy
  • Terms Of Use
  • Advertise with Us
  • Work with us
  • Contact Us

© 2020 - The Live Nagpur . All Rights Reserved.