Lahiri panel to look into jewellery excise compliance issue

Government today said a panel headed by former chief Economic Advisor Ashok Lahiri will look into the grievances of jewellers with regard to compliance and operating procedures for payment of excise duty on jewellery.
The other members of the Committee include legal expert Rohan Shah, Commerce Ministry Joint Secretary Manoj Kumar Dwivedi, CBEC Joint Secretary in Tax Research Unit Alok Shukla and Gautam Ray, a finance ministry statement said.
Representatives from the trade will be shortly appointed to the panel, which is the sub-committee of a high-level committee.
"The Committee shall consider all issues related to compliance procedure for excise duty, records to be maintained, operating procedures and all other relevant issues," the statement said.

The government had on March 21 announced setting up of the Lahiri committee to look into demand of agitating jewellers. The committee has to submit report within 60 days.
Jewellers, who have been protesting against levying of 1 per cent excise duty on non-silver jewellery in the Budget, temporarily called off their 42-day strike on April 13 following government's assurance that there will be no harassment by excise officials.
The statement said all associations or trade and industry can submit their representations before the sub-committee by emailing to 'highlevelcommittee@gmail.Com'. All India Associations will also be given an opportunity to state their case in person, it added.

The gems and jewellery industry is estimated to have incurred over Rs 1 lakh crore loss due to the 42-day strike. jewellers are also against the mandatory quoting of PAN by customers for transactions of Rs 2 lakh and above.