Diamond sector happy over VAT exemption

Surat Mar 29 (UNI) The diamond industry here has expressed happiness over Gujarat Government's decison to lift the proposed one per cent Value Added Tax on the diamond industry.

The State Government, in its annual budget, had imposed one per cent VAT on the diamond and zari industries which was lifted today.

Surat Diamond Association president Mulji Bhai Dameliya, in a statement here today, said the association congratulated Chief Minister Narendra Modi and State Finance Minister Saurabh Patel for VAT exemption to the diamond industry which provides employment to over 15 lakh workers in Surat.

Southern Gujarat Chamber of Commerce and Industry vice president Pravin B Nanavati said that the Government's decision will help the growth of the diamond sector in Surat.

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