Sutton-based jewellers Warrenders Jewellers has launched a platinum anniversary collection to celebrate the firm’s 70th anniversary in business. The Anniversary range comprises a selection of earrings, pendants and rings in a variety of metals including platinum, gold, rose gold and white gold. Warrenders is also running a series of promotions to celebrate the milestone, including … Read More →
To much relief in the gold jewellery and diamond processing industry, the goods and services tax (GST) Council slashed the applicable rate on making charges from the 18 per cent decided earlier to five per cent. While announcing the decision along with similar reduction on GST rate on various other products and services, Union … 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 →
Six Chinese fine jewellery brands made it to a list of the world’s 100 largest luxury companies, according to the fourth annual Global Powers of Luxury Goods report by market research firm Deloitte. The report, titled “The new luxury consumer,” examined top luxury goods companies globally based on their consolidated sales of goods in FY 2015, which Deloitte … 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 →
The Federal Government is consulting members of the jewellery industry in order to assess the potential costs and benefits of an anti-money laundering and counter-terrorism financing (AML/CTF) regime. A spokesperson for the Attorney-General’s Department (AGD) confirmed that a cost-benefit analysis was being conducted to determine if certain business sectors posing money laundering and terrorism financing … Read More →
Major jewellery retailer Pure Gold Jewellers has pledged US$1 million to help secure the release of debt-laden prisoners in the UAE. Firoz Merchant, founder and chairman of Pure Gold, recently visited the Ajman Central Jail to secure the release of the first batch of 132 prisoners whose debts, worth AED 150,000 (about US$41,000) in total, … Read More →