Tax collection on jewellery rises 71% in Bihar

Bihar jewellery tax

Tax collection process in Bihar had been expedited and that from jewellery had risen by 71 per cent in 2012-13 as compared to the previous year, Deputy Chief Minister Sushil Kumar Modi said today.

Till January, 2013, a total Rs 9.57 crore was collected from jewellers in the state, Modi, who is also the Finance Minister of the state, told the assembly in reply to a short notice question.

The central laws, he said, permit realisation of only one per cent tax on gold and silver.

Asked about smugglers of precious metals using trains for their activities, Modi said some of them were caught at Patna station recently and a fine of Rs 18,288 was collected from them.

Since the smugglers travel as common passengers, it is difficult to identify them. However any information received is acted on, raids are conducted and penalty realised from them.

Please read our terms of use before posting comments
TERMS OF USE: The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).
comments powered by Disqus