Surat, Sep 6 (KNN) A delegation representing the diamond industry of Surat led by Gems and Jewellery Export Promotion Council (GJEPC) met Union Minister of Finance, Nirmala Sitharaman to discuss issues related to the problems faced on account of accumulation of GST.

The delegation pointed out that there was accumulation of input tax credit due to inverted duty structure which can't be utilised, and put forward different suggestions on how these issues could be addressed.

A reduction in the rates for Job Charges and Grading Certification charges was one of the proposed solutions that would offer immediate relief to the trade, they said.

The Minister heard the delegation and assured the diamantaires that the Government would examine the best possible solution to this burning issue. The Department officials would review the proposal and the existing rates, structure, etc. There is a possibility that the matter may be discussed at the upcoming GST Council meeting.

The GJEPC has also been asked to propose longer term and more permanent solutions based on the details of different models or practices followed by other diamond manufacturing or trading hubs.