A significant meeting was organized by the GJEPC regional office in Surat to discuss key issues related to the gems and jewelry industry. Sumit Kumar, Principal Additional Director General of the Directorate General of Taxpayer Services (DGTS), attended the meeting.
The aim was to improve taxpayer services and take steps towards resolving industry problems. The role of DGTS includes monitoring service centers and helplines, conducting feedback surveys, implementing policies, and enhancing communication with the industry to make the tax system more effective. Several senior chartered accountants were present, including representatives from the Surat Diamond Association, Surat Jewelry Manufacturers Association, Surat Jewelers Association, Lab Grown Diamond Association, and the Association of Chartered Accountants (Western Zone).
Many important issues related to the industry were raised during the meeting, including delays in GST credit, delays in IGST refunds, concerns related to enforcement, seizure of goods in consignment-based transfers, and issues with customs duty refunds. Industry representatives indicated that these challenges are affecting business momentum and increasing pressure on working capital.
In response, Sumit Kumar took all issues seriously and assured that a detailed investigation would be conducted into the relevant problems and necessary steps would be taken to address them. The meeting is considered an important initiative to strengthen communication between the industry and government departments, which could help make the tax system more transparent and industry-friendly in the future.
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