Friday 29 April 2016

FM reinforces luxury item like gold jewellery can’t stay out of tax net, rules out any roll back on excise

The government has ruled out rollback of 1% excise duty on gold jewellery levied in the budget, calling it a tax on a luxury item. Finance minister Arun Jaitley said gold cannot remain out of the tax net when goods used by common people were being taxed. 
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