“In case of imports, IGST of 3 % has to be paid for bringing gold in the country. When sold to a dealer or a jeweller, refund has to be applied for, which usually takes long to come. This will increase the cost of operation. On any transfer among branches, IGST would have to be paid and one could recover this from the customer only at the time of sale. Working capital required for conducting gold business will increase. Government should look into it,” Shekhar Bhandari, Senior Executive VP & Business Head, Kotak Mahindra Bank.