Gold jewellery exports from India have come to a grinding halt the past two weeks due to non-availability of the metal for fabrication. Trade sources said banks and nominated agencies responsible for bullion import have halted the entry of gold since implementation of the Goods and Services Tax (GST) effective July 1. They fear the government’s decision to levy … Read More →
Sales of old gold jewellery are unlikely to be affected by the three per cent Goods and Services Tax (GST) levied on re-materialisation of used articles made of the precious metal. Financial Services Secretary Hasmukh Adhia clarified on Wednesday that old gold jewellery would attract three per cent GST. However, jewellers say consumers needn’t worry as they would get input credit in the invoice made … Read More →
“If the fundamental theory is that demand is not going to get adversely impacted because of GST, then the earnings impact is not going to be permanent one”, said Upadhyaya. In an interview to ET Now, guests Ajay Srivastava , CEO, Dimensions Consulting andHarsha Upadhyaya , CIO-Equity of Kotak AMCspeak about some of the major probable outcomes of the … Read More →
Organised jewellery retails will get a boost in the Goods and Services Tax (GST) regime as business is likely to be weaned away from unorganised players, who account for three-fourths of the industry’s annual revenue, a CRISIL report said. The overall increase in the end price of jewellery is expected to be about one per … Read More →
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 →
If you have been bitten by the shopping bug, you can’t be blamed. Well, at least, not this year. After all, it is not often that retail stores offer steep discounts in the months of May–June. While monsoon sales by apparel stores usually start by end of June and electronic stores do have some clearance sales in June-July, this year with the Goods and Services … Read More →
The Goods and Services Tax (GST) Council announced rates for the textile and other pending categories on June 3, 2017, moving one step closer to the proposed implementation of the new tax regime with effect from July 1, 2017. While rates for most commodities were announced on May 19, 2017, the announcement for the textile … Read More →