FATF Flags India's Gems and Jewellery Sector as Vulnerable to Money Laundering and Terrorist Financing
The FATF's report highlights how precious metals and stones can be easily traded to move large sums of money without clear ownership trails, putting the industry at risk for illicit financial activities
India Seeks to Reevaluate India-UAE Trade Pact Amid Concerns Over Precious Metal Imports
The Indian government is pushing for revisions to the India-UAE Free Trade Agreement, following recommendations from the Global Trade Research Initiative (GTRI) to withdraw duty concessions on precious metals and jewellery
Calcutta Gem & Jewellers Welfare Association Creates Awareness on Prevention of Money Laundering Act
In a recent communication addressed to jewellers and members, the Executive Committee of the Calcutta Gem & Jewellers Welfare Association highlighted the importance of understanding and adhering to the provisions of the Prevention of Money Laundering Act (PMLA).
Jewellers getting more inquiries for gold after RBI withdraws Rs.2,000 notes; no panic buying
Jewellers in India have started receiving more inquiries for purchase of gold or silver immediately after the Reserve Bank's announcement to withdraw Rs.2,000 notes from circulation.
CBI Probes Diamonds Racket
India seeks help from Hong Kong in $20m diamond probe
ED arrests Hyderabad-based jewellery firm promoter
Agarwal was produced before a special PMLA court in Hyderabad and remanded to 15 days of judicial custody
ED attaches assets worth Rs 363 cr of jewellery firm
The ED case against the accused was made out on the basis of a Hyderabad CBI Anti-Corruption Bureau FIR and chargesheet
Decoding PMLA Rules & Regulations-PMLA Regulations
The recent PMLA notifications issued to the G & J industry had the G & J industry reeling under its pressure and anxiety for sometime; Rohan Shah in conversation with Colin Shah, Chairman GJEPC comes forward to clear the air
What Jewellers Across India Expect From Union Budget 2021? Reduce Import Duty On Gold, Simplify Import Process, Nurture MSME Gold And Jewellery Traders
India’s economic slowdown which began before the lockdown of 2020, eventually brought the whole economy on its knees. Therefore this budget will have to be truly ground breaking in order to resurrect the Indian economy. Here’s what industry personnel expect of the Union Budget of 2021
Malabar Group Urges Govt To Reduce Tax Rate
Malabar Group chairman MP Ahammed said the government should create an enabling environment for the jewellery retail trade to introduce MRP pricing in the segment without any pricing break-up in terms of GST or other taxes
'GJC Aims To Become A Strong Connect Between Industry And Government In Near Future'
Ashish Pethe has recently been elected the Chairman of GJC he shares his vision and the issues he would like to address in the near future in an exclusive interview with IJ
Record-Keeping Of Cash Deals In Gems And Jewellery Trade Now A Must Under PMLA
For income tax purposes, cash transactions up to a threshold of Rs 2 lakh without KYC --PAN or Aadhaar -- are allowed in the gems and jewellery sector. Any sale in cash above Rs 2 lakh requires KYC
GJEPC Provides Inputs on Policy Related To Gold Refining
Important suggestions which need to be considered before formulating any policy related to gold refining
Mumbai-Based Jewellery Trading Company Accused By CBI In Multi-Crore Fraud
Auro Gold Jewellery Pvt Ltd and its directors Amritlal Jain and Ritesh Jain have been accused of allegedly cheating State Bank of India of Rs 387 crore
ED files money laundering case in IMA Jewels scam
The agency's zonal office in Bangalore has filed an Enforcement Case Information Report (ECIR), similar to an FIR, and has pressed criminal charges under the Prevention of Money Laundering Act (PMLA), the officials said
