GJEPC conducted a webinar on “Analysis of Union Budget 2024 on the G&J Industry” on 25th July, 2024. The event witnessed an overwhelming response with over 200 industry members in attendance.
Vijay Mangukiya, Regional Chairman – Gujarat, GJEPC expressed gratitude towards Hon’ble Finance Minister Smt. Nirmala Sitharaman for presenting an industry-friendly budget that addressed several key concerns raised by the GJEPC.
Providing in-depth analysis of the budget and its implications for the gem and jewellery sector was Nirav Jogani, Director, RSM Astute Consulttech. While discussing the positive measures such as the gold duty cut, abolition of the 2% equalisation levy, and introduction of safe harbour rates for mining companies, he pointed out that the gems and jewellery industry would also benefit from a penalty relief has been provided for non-disclosure of foreign assets up to Rs 20 lakh, effective 1st October, 2024.The interactive session allowed members to raise questions, which were addressed by the speaker and the Regional Chairman.
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