05 May, 2012 08:58
PM
The measures to contain imports
are not adequate. The demand for local purchase of gold and the craze for Gold
needs to be contained and intensified.The simple measures the Govt can think of to curtail
investment in Gold is to temporarily suspend sale of pure gold by banks and
bullion merchants. Introduction of cheque payments or card payments for purchase
of Jewellery above Rs 25000 will automatically bring down the demand. Inistence
of PAN CARD for all gold purchases above a cut off limit say Rs 25000 will have
some favourable impact. The Gold holdings by all tax payers should be reflecting
in Tax return from the assessment year 1913-14. These are only administrative measures and the Govt can easily introduce them without any
hesitation.
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