Excise duty on gold cannot be withdrawn: Finance Minister Arun Jaitley
Posted on: 28/Mar/2016 11:44:29 AM
Hon`ble Minister of Finance Shri Arun Jaitley while speaking to the media in New Delhi has mentioned, We cannot withdraw the 1 percent excise duty imposed on gold. When excise duty is being imposed on the products used by common man, we have to impose excise duty on luxury items like gold. A luxury item must pay its share of taxes. So on procedural harassment, if they have any suggestions, I am willing to accept for simplification so that there is no harassment. I am willing to take an extra step. But indefinitely India cannot have a situation where luxury items go untaxed.
