Budget 2018: Gems & jewellery sector seeks cut in gold duty to 4%

This cut will address issues under the GST regime in the coming Budget

Looking to give a positive push to the gems and jewellery sector, industry body has urged the government to reduce the import duty on gold to 4 per cent and also address issues under the GST regime in the coming Budget 2018.

"Lowering the duty to 4 per cent from 10 per cent will not only boost customer demand and uplift business sentiment for the trade, but also help industry become more organised and compliant," All India Gems and Jewellery Trade Federation (GJF) chairman Nitin Khandelwal said in the representation to the government.

The reduction in import duty