E-way bill on gold
E-way bill on gold may be considered in GST council meeting tomorrow. Apart from other discussions, E-way bill on Gold may also be discussed. Although a part of the industry is opposing it. But the government feels it is necessary to ensure transparency. At present, the movement of Gold is not liable for the E-way bill in GST. It is due to the safety of metal transported. If the is dragged into E-way bill requirement, it may hurt the sentiments of industry. Traditionally also gold is not made liable for this kind of compliances. It may risk the consignment. Now it is important to see whether the slowdown hit Indian economy will get more hurt by this. If it impacts negatively the trade of gold it may escalate the down sentiment.
But then there is a requirement to stop the illegal trade of yellow metal.