Customs duty on gold and silver decreased to 7.5 per cent from 12.5 per cent with an addition of 2.5 per cent AIDC (Agri Infra & Development Cess) – in effect reduced to 10 per cent -- applauded unanimously by the whole G & J industry
Customs duty on gold and silver decreased to 7.5% from 12.5% with an addition of 2.5% AIDC (Agri Infra & Development Cess) – in effect reduced to 10% -- applauded unanimously by the whole G & J industry
What Jewellers Across India Expect From Union Budget 2021? Reduce Import Duty On Gold, Simplify Import Process, Nurture MSME Gold And Jewellery Traders
India’s economic slowdown which began before the lockdown of 2020, eventually brought the whole economy on its knees. Therefore this budget will have to be truly ground breaking in order to resurrect the Indian economy. Here’s what industry personnel expect of the Union Budget of 2021
Malabar Group chairman MP Ahammed said the government should create an enabling environment for the jewellery retail trade to introduce MRP pricing in the segment without any pricing break-up in terms of GST or other taxes
How Jadau Manufacturers Are Meeting Demand Amidst Reduced Staff & Increasing Covid19 Cases In Jaipur
Jadau jewellery is not easy to manufacture – from specialist karigars to expensive uncut diamonds and top of the line precious stones and comparatively large amount of gold – it needs all of it apart from time and expertise; streamlining all these factors of production during the pandemic is no mean feat. Manufacturers share their experience
The previous revision in the gold duty drawback rate was done on 28th January, 2020, following which the gold price has risen steadily. The GJEPC represented the matter to the Department of Revenue and urged it to revise the drawback rates
Placing greater onus on transparency and accountability, the initiative will greatly reduce instances of consumer victimisation and cheating at the hands of fraudulent players who indulge in malpractices
Among other reasons, a reduced demand and decreased cash flow will witness at least 30% decline in jewellery sales as against last year.
GJF has requested government to remove Pan Card requirement in jewellery sector and reduce Import Duties on gold, silver and jewellery
Nothing substantial in the Union Budget 2013-14 for gem and jewellery industry, says Bachhraj Bamalwa, Chairman, GJF. But he expects the import duty to be reduced in the coming days.
The Central Board of Excise and Customs (CBEC) reduces the import duty on gold bars and gold coins having gold content of 99.5 per cent and above.