Coronavirus: Gem & jewellery sector seeks prompt govt relief

Kolkata, Mar 22 () The indigenous gem and jewellerysector in the country has come to a "standstill" amid thecoronavirus pandemic and is in immediate need of reliefmeasures from the government, an industry body said.

With virtually no footfalls, many jewellers mighthave to even shut down their shops, the All India Gem &Jewellery Domestic Council said.

"Considering the crisis situation, the domestic gem &jewellery sector seeks immediate relief measures to enable thetrade to function smoothly," chairman of the council AnanthaPadmanabhan said in a statement.

March, being the last month of the financial year,there are also many due dates of payments for businesses inthe sector, it said.

"We have sent a recommendation to the prime ministerstating our concern... and we have received a prompt andfavourable response from the PMO," Padmanabhan said.

The council also urged the government for deferringthe GST return and extending the time limit for filing it.

"We have also sought reduction in customs duty to 4per cent. If rate of tax is not kept at this level, it shallencourage smuggling and unorganised business," the statementadded. DCRBT RBT