GST on gold: Buying and making jewellery to get expensive for customers

Bhargava Vaidya

Latest News – The Goods and Service Tax (GST) Council has been kind enough to provide a special 3 per cent GST to gems and jewellery sector ( the exception being rough diamonds at 0.25 per cent).

Going by the economic survey of India and the hype which was created in the run-up to this meeting, a much higher rate was feared. However, the rate of GST for jewellery is in line with what it was under the old tax regime.

GST has increased paperwork and lot of compliance. Only time will tell if we as a country or an industry are ready for it.

The immediate impact would be on the investment buying of gold by consumers as (Read More)


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