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Jewellers seek hike in PAN quote limit to Rs 5 lakh

During a meeting with Finance Minister Arun Jaitley ahead of the budget, two industry bodies, All India Gems & Jewellery Trade Federation (GJF) Gems and Jewellery Export Council (GJEPC) sought measures for ease of doing business while raising the issue of PAN card requirement for transaction of above Rs 2 lakh.

"The day the conditions are accepted, we will pass the GST. It will take just 15 minutes," he said during an interaction with management students here.
Industry bodies CII and FICCI have asked the government to either withdraw or reduce the Minimum Alternate Tax, as it plans to withdraw exemptions on corporate taxes.
Domestic venture capital funds have been seeking parity in tax structure with stock investments.

While some proposals of the abandoned Direct Taxes Code are already in force, its wider objectives seem to have been abandoned.

"This would improve capacity utilization of pellet plants and give necessary boost to (the) sector," Steel and Mines Minister Narendra Singh Tomar tweeted.