Tax collection on jewellery rises 71% in Bihar
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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.