Govt sets up panel to look into jewellers’ demand

The government has constituted a panel under former chief economic advisor Ashok Lahiri to look into demand of jewellers who are protesting against imposition of 1 per cent excise duty on non-silver jewellery items. The panel, which has been asked to submit its report in 60 days, will look into issues related to compliance procedure for the excise duty, including records to be maintained, forms to be filled, operating procedures and other relevant issues. The sub-committee of a high level committee constituted earlier to suggest steps to sort out taxation problems being faced by trade and industry will havethree representatives of the trade.