Budget 2022: Gold price may come down after budget!

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#NewDelhi: Finance Minister Nirmala Sitharaman is going to present the budget on February 1 In this year’s budget, the government is expected to reduce the import duty on gold. In that case, gold is likely to be cheaper after the budget The GJEPC has demanded that the government reduce the import duty on gold from 8.5 per cent to 4 per cent.

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In the GJEPC Pre-Budget 2022-23 Recommendations, JJC demanded a 1.25 per cent GST on jewelery made of gold, precious metals, gems and similar items. At present GST rate on gems and jewelery is 3 percent. Besides, application for special package has also been informed Imports will be reduced by 4 per cent to Rs 225 crore instead of Rs 500 crore. The remaining amount can be used for expansion.

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Apart from this, it has also been demanded to increase the limit of PAN card from 2 lakh to 5 lakh A large number of people in rural areas do not have PAN card As a result, it is difficult to arrange the minimum required jewelry when needed. Besides, it has been demanded to waive the bank commission on credit cards The JGC has also asked the government to waive the bank commission (1-1.5 per cent) on buying jewelery through credit cards.

Published by:Dolon Chattopadhyay

First published:

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