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Finance Bill 2017 has recommended doing away of special threshold limit of Rs. 5 lakh for jewellery purchase with cash for applicability of Tax Collected at Source (TCS). If passed, jewellery will be considered as ‘goods’ and TCS of 1% will be levied if invoice value is Rs. 2 lakh or more and is paid by cash. Given the high price of gold, some feel lowering the threshold limit for Jewellery for applicability of TCS might take away some demand. However, central government wants this to be done to curtail cash circulation and to rationalize policies, perhaps, moving towards one country, one system
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Quote from IIGC 2016

I have been associated IIGC from day one and I would like to congratulate the entire team for their hard work. I go to every conference world-over, but the kind of discussions take place here, is never done anywhere. This IIGC platform provides every stakeholder to exchange their problems among them and finding a way towards solving the same. I would like to thank Mr. Srivatsava especially for his hard work as he takes tremendous initiative to represent to government the outcome of the discussions. I do believe conference will continue to improve in coming years with bigger participation.

- Mr Prithviraj Kothari

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