Diamond Firms Urged to Pay Tax in Surat Rather Than in Mumbai

Finance and Trade
13/10/2015 07:26

Surat Diamond Association President Dinesh Navadia is backing a request by the income tax authority that Surat diamantaires should pay their taxes in the city and not in Mumbai as a way of helping both the industry and the local population. Surat is India's and the world’s largest diamond cutting and polishing center. Most of the larger diamond firms in Mumbai have their manufacturing units in Surat but pay taxes in Mumbai where their offices are registered. Paying income tax in Surat will enable the city to receive more benefits under central government funding schemes.