Green channel, a unique system of importing gold has been frozen in Jaipur. Jaipur is the biggest gold importing centre having only such system in the country.
It was, however, declared last month that the Rajasthan government would discontinue the green channels and would recover sales tax on gold import at the new rate of 1 per cent from October 1.
Sources said that a crucial meeting of the government officials, gold importers and the green channel operators is scheduled to be held on October 12, in which efforts would be put to continue the operations. At present, the gold import activities at Jaipur have come to a halt.
However, the green channels operators have advise traders to import gold and pass it at the old rate of sales tax, provided they have to give an undertaking that if the sales tax rate is revised, a difference amount would be paid immediately.
But importers are not ready to give any such undertakings. According to sources, there are three institutions in Jaipur
