Once
GST is implemented on July 1, jewellers will have to declare stocks and all
subsequent sales will be at the new tax rates. Jewellers are selling old
jewellery for cash or managing bills to bring their inventory on their books.
Market estimates suggest 300 tonnes of gold jewellery have been moved on to
jewellers’ books in the past four months. This is 40 per cent of India’s annual
gold imports. Read More
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