Budget 2013: Gold and jewellery trade federation welcomes Transaction tax

KOLKATA: Commenting on the union budget, Gold and jewellery trade federation today said that the union finance minister P Chidambaram had recognized the continued representations by the sector and welcomed the Transaction tax and increase in baggage allowance to Rs One lakh.

GJF chairman Bachhraj Bamalwa said, "going by the negative comments for the gems and jewellery sector by the Government since a few months, the gems and jewellery sector was very sceptical about the budget 2013."

"The Finance minister has recognized the continued representations by the sector. We are extremely thankful to him and the government. Transaction Tax and increase in baggage allowance to Rs 1 lakh has been accepted", he said in a statement.