In month of feb or so, corrupt and puppet Finance Minister Pranav Mukherjee issued three orders wrt jewellery business (9-May-2012) No.2

May 9, 2012

https://www.facebook.com/mehtarahulc/posts/10150779470401922

Hi Folks,

In month of feb or so, corrupt and puppet Finance Minister Pranav Mukherjee issued three orders wrt jewellery business

1. Increase import duty on gold from 2% to 4%

2. Levy excise of 1% on jewellery making

3. Tax deduction at source of 1% on jewellery purchase of Rs 200,000 or more.

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On very same day, I had predicted that corrupt FinMin Pranav will cancel order-2 and order-3 and continue with order-1. And he is NOT interested in order-2 and order-3 anyway. He only wants order-1.

Why import duty on gold. Because SEZs will not have to pay import duty and so entire business of jewellery export will pass into hands of SEZ-owners such as Robert Vadhera, Tata, Mukesh Ambani etc

Then why did FinMin issued excise and TDS if he had no interest? So that big heads in jewellery business , who also own SEZs and are presidents of jewellers' associations, can claim victory when order-2 and order-3 are cancelled !! And jewellers can also feel victory in getting 2 out of 3 bad orders cancelled.

IOW, Finance Minister played the same cheap trick that shop keepers have been using for 2000 years. A shop-keeper who wants to sell an item for Rs 100 will first say Rs 150 and then bring down the price so that customer gets satisfaction of bargaining and winning. Sadly, jewellers got cheated by same 2000 year old trick, and have lost entire jewellery export business to SEZ-owners.