GST rate on Loose Diamonds, Gemstones, Jewellery (both gold & platinum), loose bullion has been fixed by the Government of India at 3%.
A special tax slab of 3% has specifically been made for the jewellery industry.
Will this make your jewellery cheaper or more expensive?
In the long run, it should make jewellery much cheaper because currently no credit is available for Excise tax & CST, however now input credit will be available for GST.
Source : http://blog.ritulpatwa.com/rate-of-gst-on-jewellery-gemstones-gold/
A special tax slab of 3% has specifically been made for the jewellery industry.
Will this make your jewellery cheaper or more expensive?
In the long run, it should make jewellery much cheaper because currently no credit is available for Excise tax & CST, however now input credit will be available for GST.
Source : http://blog.ritulpatwa.com/rate-of-gst-on-jewellery-gemstones-gold/
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