{"id":5949,"date":"2021-06-08T19:19:05","date_gmt":"2021-06-08T13:49:05","guid":{"rendered":"https:\/\/indiacityblog.com\/?p=5949"},"modified":"2021-06-08T19:19:05","modified_gmt":"2021-06-08T13:49:05","slug":"gem-sector-welcomes-ustrs-decision-to-withdraw-additional-tariffs-on-india","status":"publish","type":"post","link":"https:\/\/indiacityblog.com\/retail\/gem-sector-welcomes-ustrs-decision-to-withdraw-additional-tariffs-on-india-5949\/","title":{"rendered":"Gem sector welcomes USTR\u2019s decision to withdraw additional tariffs on India"},"content":{"rendered":"
June 7:\u00a0The gem and jewellery sector has welcomed a decision made by the United States Trade Representation (USTR) which has suspended the taxes on several services from India and other countries as well for as many as six months.<\/p>\n
The US has also announced tariffs earlier on India along with a few other countries as a part of its equalisation levy\/digital services tax on e-commerce companies, including the jewellery sector, however, immediately deferring the decision for 6 months in order to provide additional time to complete the ongoing multilateral negotiations on the international platforms.<\/p>\n
GJEPC is an apex body for the gem and jewellery trade industry in India. They had earlier engaged several stakeholders and had also made representations to the government officials who conveyed the implications of this move.<\/p>\n