"We have requested the Finance Minister to hold back the revenue officials from seeking enhanced advance tax payment from jewellers based on their earnings last fiscal and not this fiscal," federation's chairman Haresh Soni said in a statement.
The GJF represents over 6,00,000 members comprising manufacturers, wholesalers, retailers, distributors, labs, gemologists, designers and allied services among others.

"It is difficult to pay advance tax at the rate of our income in the last financial year since the overall business is down by 20-40 percent, hence we have appealed to the minister to consider advance tax payment on realistic figures as declared by member-assesses," Soni said.

He further said that the members are willing to pay taxes based on their declared income this year.

The government's gold control has resulted in lower turnover than expected and demand for additional tax advance payment has dented the morale of members.


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