Buying jewellery over Rs. 2 lakh in cash to attract 1% tax from April 1
Once the Finance Bill 2017 is passed, jewellery will be treated on par with general goods which attract 1 per cent TCS on cash purchase of above Rs. 2 lakh.
Budget 2017: pay tax on jewellery receipt in undervalued
Taking a stance of 'no news is good news' jewellers today hailed the Union Budget, saying the focus on digitalisation is going to give an impetus to the sector and drive consumption.
Budget for better India, Gems and Jewellery industry calls it a positive budget
Income tax for small companies with an annual turnover of Rs 50 crore, now to pay 25%, a 5% reduction; 96% Indian companies will get benefit of MSME tax cut.
Hoping For the Good Times-Budget Expectations
The Indian gems and jewellery industry is hoping that the forthcoming budget would be more industryfriendly,which would lead to further growth of the industry. Kavita Parab spoke to few industry playersto know their views on the forthcoming budget.
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