Government Set to Increase GST on Gold and Silver to 5%
The Indian government is expected to increase the Goods and Services Tax (GST) rate on gold and silver from 3% to 5%. This anticipated hike follows recent reductions in the basic customs duty, as outlined in the latest Budget
Economic Recovery Likely To Boost Gold Demand In India This Year: WGC
The report, titled 'Gold Outlook 2021- Economic recovery and low interest rates set the tone', also said although global economic growth is likely to remain anaemic relative to its full potential for some time, gold's more stable price performance since mid-August may foster buying opportunities for consumers
Record 37.9 tonnes of gold recovered from scrap jewellery in April-June 2019
Trading at Rs 31,648 per 10 grams on April 1, 2019, standard gold price spiked to touch Rs 33,500 per 10 grams towards the end of the June quarter
Gold spot exchange bourse inches closer to construction
After reviewing standards at global gold spot exchanges and Indian exchanges, the committee suggested that the exchange should have a tiered and flexible membership structure, with members meeting a minimum net worth requirement.
WGC advises Government to lay down regulations for purchase of digital gold
While the World Gold Council (WGC) has set voluntary guidelines for all countries, they have instructed respective country Governements to form their own regulatory norms
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