#AOJQuote of the day 8th June 2017:"For jewellery consumers in India, a three per cent GST will result in a half-per cent price hike. They are currently paying one per cent excise duty and 1.5 per cent VAT on gold. With the GST coming into force, it will be three per cent total. When compared to jewellery purchased from Dubai, Indian market will be 13 per cent costlier when the customs duty of 10 per cent will be added to three per cent GST, making the lure of Dubai and other Gulf markets all the more tempting." Joy Alukkas, chairman of Joyalukkas Group