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
GJEPC Seeks Jewellery Repair Policy To Make India A Global Outsourcing Service Centre & Hub
Seeks 4% import duty on gold, silver & platinum; allowing sale of rough diamonds in SNZs and Zero duty on Lab Grown Diamond seeds
Illegal gold trade causes 25-30% loss to Kerala jewellers business
Jewellers claimed that the 13 per cent duty on gold- 10 per cent import duty and 3 per cent GST- is encouraging illegal entry of the yellow metal
GJF urges Govt to levy 1.25% GST on Jewellery Sector
GJF urged the government to levy 1.25 per cent Goods and Service Tax (GST) on the industry as against the proposed four per cent.
GJEPC seeks exemption for GJI export transactions & minimal GST for domestic transactions in representation to GST Council
At present, gems & jewellery exports are effectively zero rated. Hence any element of tax in exports is required to be rebated.
Petra Diamonds recovers 507.55 carat white diamond
The diamond was recovered from the Cullinan mine
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