Tuesday, 27 June 2017

#AOJDailyeNews On-line jewellery dealings face a threat from fraudsters

 E-commerce fraud increased 13% in the jewellery industry over the past year, according to a recent report by fraud-protection company Signifyd. Read More 

Diamonds smuggled using social media warns Global Witness report

 Smugglers are using social-media platforms such as Facebook and WhatsApp to get diamonds out of the Central African Republic (CAR) and into international markets, Global Witness claimed in a report last week. Read More 

#AOJQuote of the day 27th June 2017:

 “So much of gold buying in India was done through small retailers and sales were never recorded properly on their books. When you had those levels of under-invoicing — even no reporting — it was detrimental to those retailers following the rules. And the tax authorities were losing money all the way, hence GST is a good step. Joy Alukkas, Chairman, Joyaluakkas.

#AOJQuote of the day 27th June 2017

 “Apart from three per cent GST on gold and 0.25 per cent on rough diamond import, there will be a five per cent GST on services rendered outside the factory premises. This means, diamond processing would be costlier by three to four per cent.” Praveen Shankar Pandya, Chairman, Gjepc India

#AOJDailyeNews India topples Israel and becomes no. 1 for U.S. diamond trade

As President Trump met Prime Minister Narendra Modi the centre of the talk were diamonds.Read More 

Monday, 26 June 2017

#AOJDailyeNews Jewellers try to sell-off old stock before GST roll-out

 With only a few days more for implementation of the Goods and Services Tax (GST), jewellers have intensified their efforts to replenish inventory by offering discounts on making charges for ornaments. READ moRE 

Myanmar plans to step up gold & jewellery exports

 Myanmar plans to step up the promotion of jewellery and product in a bid to boost exports, Planning and Finance Kyaw Win said.