Pune: There was a rush for gold purchase in the city till late Friday night, a few hours before the country entered the era of Goods and Services Tax (GST). Parag Gadgil, the director of Gadgil Jewellers on Laxmi Road, said there had been a higher footfall and sale throughout the day, especially for gold jewellery and … Read More →
Srinagar:Tanishq, leading jewellery brand, has announced an exciting exchange offer for its customers. Beginning from June, customers can walk into any Tanishq store and exchange their old gold jewellery and get 0% deduction and 100% exchange value. This offer is valid until 25th June, 2017. Through this offer, Tanishq, encourages its customers to upgrade their … Read More →
In what could be a huge relief for jewellery and diamond processing industry before India’s biggest tax reform kicks in from July 1, the Goods and Service Tax (GST) Council reduced the applicable rate on making charges from 18 per cent to just 5 per cent. “The GST Council has received 133 representations. An officers’ … Read More →
Jewellers welcomed the decision to fix the goods and services tax (GST) rate for gold at 3 percent and for rough diamonds at 0.25 percent, saying the move will help boost the industry. They said the government has understood the need of the bullion industry and created a special category in the GST. “We welcome … Read More →
Goods and services tax (GST) of 3 per cent on gold will open a window for cheap jewellery imports from Indonesia and South Korea from July 1. Now, a 12.5 per cent countervailing duty is charged on imports of such jewellery from countries with which India has free trade agreements (FTAs). As excise duty … Read More →
The gems and jewellery industry on Saturday welcomed the Centre’s decision to keep the goods and services tax rates (GST) for gold at 3 per cent, which is almost in the same range being levied by most of the states at present. While most of the states have been levying between 2-2.5 percent tax on … Read More →
The impending goods and services tax (GST) is forcing jewellers to replace unaccounted inventory with stocks they can show on their books. Once GST is implemented on July 1, jewellers will have to declare stocks and all subsequent sales will be at the new tax rates. Jewellers are selling old jewellery for cash or managing … Read More →