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GJC Rolls Out Statewide Guidelines & Multilingual SOPs To Safeguard Jewellery Traders

Reflects GJC’s Proactive Role In Translating Regulatory Directives Into Practical, Implementable Frameworks For The Trade

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The All India Gem and Jewellery Domestic Council (GJC) has launched a comprehensive industry-wide initiative to safeguard jewellery traders across Maharashtra by rolling out structured guidelines and Standard Operating Procedures (SOPs) aimed at ensuring fair, transparent, and accountable policing practices during theft investigations.

This initiative follows the Government of Maharashtra’s circular dated March 14, 2024, and reflects GJC’s proactive role in translating regulatory directives into practical, implementable frameworks for the trade.

GJC’s Industry-Led Initiative

As part of this rollout, GJC has taken the lead in interpreting, structuring, and disseminating the guidelines across the jewellery ecosystem. To ensure wider accessibility and effective adoption, GJC has also issued detailed Instructions and SOPs in multiple languages, including Marathi, English, and Hindi, enabling jewellers across regions to clearly understand their rights and responsibilities.

GJC is actively engaging with trade bodies and stakeholders to facilitate smooth implementation at the ground level, thereby strengthening trust between law enforcement agencies and the trading community.

Key Highlights of the Guidelines

The framework introduces several important safeguards and procedural requirements:

  1. Mandatory Record of Police Visits

Police officers visiting jewellers’ premises must record the purpose of their visit in the merchant’s register and provide their signature.

  • Jurisdictional Protocols

Investigations extending beyond jurisdiction must be routed through the appropriate vigilance mechanisms before approaching traders.

  • Transparency in Investigation

Relevant case details or FIR copies must be shared with the concerned trader.

  • Evidence-Based Enforcement

Arrests should be strictly based on credible evidence, ensuring that genuine traders are not subjected to undue harassment.

  • Minimizing Business Disruption

Wherever feasible, statements should be recorded at the trader’s premises to avoid interruption of business operations.

  • No Unwarranted Detention

Traders should not be compelled to accompany police officers unless necessary.

Establishment of Vigilance Committees

The initiative also emphasizes the formation of Vigilance Committees at State, Commissionerate, and District levels to monitor implementation and address concerns of traders.

  • State-Level Committee: To function under the supervision of the Director General of Police and meet annually
  • District & Commissionerate Committees: To meet once every three months for regular review and oversight

These committees will serve as a structured grievance redressal and monitoring mechanism, ensuring accountability and consistency in enforcement.

Leadership Perspective

Rajesh Rokde, Chairman – GJC, said:

“This initiative marks a significant step towards safeguarding the interests of genuine jewellery traders. By ensuring structured procedures, documentation, and oversight mechanisms, the framework promotes transparency and accountability while protecting traders from unnecessary harassment. GJC’s role has been to ensure that these guidelines are effectively understood and implemented across the industry.”

Avinash Gupta, Vice Chairman – GJC, added:

“The introduction of multilingual SOPs and practical guidelines reflects a progressive and inclusive approach. It empowers jewellers with clarity and confidence while enabling constructive cooperation with law enforcement agencies. This will go a long way in strengthening the overall ecosystem.”

Strengthening Industry Confidence

Through this initiative, GJC reinforces its role as a bridge between the Government and the trade, ensuring that policy directives are effectively translated into actionable processes.

The rollout is expected to significantly enhance confidence among jewellery traders, while promoting a more transparent, accountable, and business-friendly regulatory environment across Maharashtra.

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National News

Jewellery Manufacturers Seek Tax Relief As Rising Gold Prices Inflate Inventory Valuations

Higher Gold Prices Sustained Turnover Value, But Jewellery Volumes Declined As Consumers Adjusted To Costlier Purchases.

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Jewellery manufacturers in Coimbatore have submitted a representation to the Government of India seeking a review of the existing methodology for valuation of gold inventory for income tax purposes, citing significant financial pressures arising from the sharp increase in gold prices.

According to industry representatives, the closing stock value of gold held by jewellery manufacturers and retailers is currently determined on the basis of the weighted average cost of inventory available at the end of the financial year. The sector has highlighted that gold prices witnessed an increase of approximately 65 per cent between March 2025 and March 2026, resulting in a substantial rise in the book value of inventory.

Industry stakeholders have stated that while the monetary value of sales turnover may have remained comparable to the previous year due to higher gold prices, the actual quantity of jewellery sold has declined as consumers adjust to elevated price levels. Consequently, manufacturers contend that the appreciation in inventory value is being reflected in taxable income despite the absence of corresponding realised sales and cash flows.

The industry has further represented that maintaining adequate gold inventory is essential for meeting consumer demand for a wide range of designs and product categories. As a result, manufacturers are unable to significantly reduce stock holdings without affecting business operations and market competitiveness.

Particular concern has been expressed by micro and small-scale jewellery manufacturers, who report increased working capital requirements and liquidity constraints arising from taxation linked to inventory appreciation. Industry associations have requested that the Government examine alternative valuation or taxation mechanisms that more accurately reflect realised business income and cash generation.

The representation seeks consideration of suitable policy measures to address the financial impact of inventory value appreciation on jewellery manufacturers while ensuring continued compliance with taxation requirements and supporting the sustainability of the sector. Hence, the government should take separate statement of the gold stock with the manufacturers every year. It should collect advance tax based on the sales.

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