In India recently, there is a law according to which all jewelers with a turnover of more than $ 1 million are required to pay the excise tax on jewelry made of gold and precious stones. At the same time, representatives of the Indian jewelry industry wants to ensure that the threshold of levying excise duty was raised to $ 3 million.
As of April 1 of this year, the Government of India has introduced a 1 per cent excise tax on jewelry made of gold and precious stones for jewelers, with an annual turnover of production more $ 1 million. The rule is valid starting from the current 2016-2017 fiscal year. Small craftsmen and jewelers with an annual turnover of less than $ 1 million are exempt from excise duty.
Most jewelers have decided not to register in the Central Excise Department as long as the limit for the payment of the excise tax will not be raised to $ 3 million. Jewelry segment Traders resisted the entry of excise duty from the beginning, and from March 1 to April 12, they went to the 43-day strike.
The strike has been completed after the Government of India has assured the jewelers in the intention to come to a common solution of the issue through dialogue with the representatives of the jewelry segment at the national level.
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A recent Zimbabwean government directive requires all diamond mining companies in Marange (with the exception of Marange Resources, wholly owned by the state) to stop work on the field seems to be provoked the illegal mining and the plundering of the assets in the area.
Allegedly, diamond concessions have been left in the care of the Zimbabwe Republic Police and officials from the Ministry of Mines, while 90 days were given to mining companies is to remove their equipment.
The Herald newspaper, which is controlled by the state, said that there was no proper transfer and acceptance have been conducted mines because of their alienation solution was implemented unceremoniously.
"Illegal miners have returned in full and started to artisanal mining," - the newspaper quoted unnamed sources.
"All equipment, to ensure the safety of mines, has been removed. Police and officials from the Ministry of Mines is not able to ensure the protection of deposits. Gates leading to the mine, were broken, making it difficult to deal with. The problem lies in the fact that he arrived in Marange officials to all other disabled the video surveillance system for the area. So now difficult to follow who and what is doing there, "- says the source.
Mining equipment, fuel and household appliances, are reported to have been looted by the evening of February 22 after which the Diamond Mining Corporation (DMC) has addressed a statement to the police, The Herald reports.
Permanent Secretary of the Ministry of Mines of Zimbabwe Gudianga Francis (Francis Gudyanga) said that Marange received "all kinds of messages," but could not tell what exactly happened.
Zimbabwe said that the validity of diamond companies in the Marange licenses expired and that they resisted efforts to join the newly established Zimbabwe Consolidated Diamond Company (ZCDC).
Harare authorities want to be in the company's share of 50 per cent, leaving to the discretion of diamond firms compete for the remaining shares.
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