All Kerala Gold and Silver Merchants Association has demanded that the move to implement e-way bill in the jewellery sector be abandoned since it affects the survival of small traders with a market share of 80%.
“The e-way bill will have far-reaching consequences for the jewellery trade. According to various agencies, at least 1,000 tonnes of gold has been smuggled into Kerala in the last five years. Not a single gram of gold has been seized by the GST officials and instead of taking steps to curb gold smuggling in Kerala, they are trying to harass traders,” said association office-bearers at a press meet here on Tuesday.
The law would cause difficulties for traders and customers alike, S. Abdul Nazar, treasurer of the merchants’ association, and National Director, All India Gem and Jewellery Domestic Council, said.
“The law would require anyone who goes with one and a half sovereign gold ornaments to carry an e-way bill and if there is no e-way bill, gold will be confiscated. It will be an encroachment on the freedom of citizens. The law declaring a reward of ₹150 per gram for those who inform GST officials about anyone will also create a major crisis.”
He also observed that giving GST officials the power to prosecute even those who go with one and a half sovereign gold for selling or mortgaging will have far-reaching repercussions on society.
