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How Would GST Effect India’s Jeweler Sector

Print PDF eBookGST Effect India’s Jeweler Sector India’s gem & jewellery, (ornament) industry has been distress from constant changes and doubtful in tax policy. It is a wide-spread feeling among the jewellery companionship that the Indian Govt. Needs to work towards a more uniform and compatible taxation policy under GST regime for the GJIndustry. GST   Read More

GST Effect India’s Jeweler Sector

India’s gem & jewellery, (ornament) industry has been distress from constant changes and
doubtful in tax policy. It is a wide-spread feeling among the jewellery companionship that the
Indian Govt. Needs to work towards a more uniform and compatible taxation policy under
GST regime for the GJIndustry.

Industry has recently requested the govt. to implement uniform 1% GST across the entire G&J
sector as such an initiative would bring all jewellery manufacturers under one single
umbrella. Such action would also help the G&J sector to Encourage ‘Make in India’ concept at
grass root level and help in getting the sector more organized.

But india’s chief economic advisor Mr. Arvind Subramanian has recommended a 2 to 6%
tax on precious metals, which is above the 1% VAT applicable on them in most of the Indian
states. Mr. Arvind feels that taxing precious metals close to the upper limit of 6% would help
in keeping the standard GST rate lower for most of the goods.

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