Indian Gold Coin Scheme Amended; Buy 1, 2 Gram Coins At Airports, Post Office, Jewellery Shops And Online Soon
The Central Government recently approved several amendments to the Indian Gold Coin Scheme
GJEPC had organised a webinar for Micro, Small & Medium Enterprises (MSMEs) on the “Benefits of Machinery empanelment for gem and jewellery manufacturers
Under the revamped Gold Monetising Scheme (GMS) which was first introduced in 2015, consumers can deposit as little as 10 g (from previous minimum of 30g). This will aid in lowering the industry’s dependence on imported gold and will foster a better relationship between jewellers and customers
The Gem and Jewellery Export Promotion Council (GJEPC) proposes several measures like reduction in cut and polished diamonds to 2.5%, reduction in import duty of gold and other precious metals to 4%, Technology Upgradation Fund (TUF) Scheme for G&J industry; need for additional Common Facility Centres (CFCs) and many more to strengthen the gems and jewellery export sector
Gems & Jewellery Export Promotion Council Suggests Changes To Gold Deposit Scheme To Make It More Attractive
The Gems and Jewellery Export Promotion Council has proposed changes in the revamped gold deposit scheme
GJEPC’s Recommendations: Modification In The Revamped – Gold Deposit Scheme (R-GDS) and Gold Metal Loan (GML)
GJEPC put forth its suggestions to modify few points within the Revamped – Gold Deposit Scheme (R-GDS) that will enable its larger acceptance and garner additional deposits of idle gold within the country
According to sources, gold without receipt will have to be disclosed to the government and tax would be payable based on the rate set by the government
This is based on an analysis of 50 CRISIL-rated jewellery retailers, which together account for about half of the revenues of the organised jewellery retail market in India
The council also urged that the Gold Monetisation Scheme be made more attractive so that the industry gets better access of domestic gold as raw material
The seminar was conducted to create awareness about various schemes available for MSMEs and through the National Small Industries Corporation Ltd. (NSIC); and to inform them about banking procedures and documentation and export-import procedures
Manufacturers will be able to obtain gold locally from Surat thanks to loan facilities which offers various discounts on existing interest rates
After the government banned unregulated deposit schemes offered by jewellers, Kalyan Jewellers expects 25 per cent revenue growth from its ongoing regulated jewellery purchase advance schemes
According to a new federal order, there is a ban on unregulated deposit plans where in the consumers are promised installment waivers
Titan Jewellery Division Q3 Profit up by 37%; continues to emerge successful in a dull market scenario
Golden harvest and gold exchange schemes are growth drivers, in addition to CaratLane recording a 43% growth, primarily due to network expansion
SEZs outperform DTA in gold jewellery export owing to beneficial zero-duty structure. The industry demands for a reduction in customs duty.
The revenue secretary and top officials of the ED, the Central Board of Direct Taxes and the Central Board of Excise and Customs had appeared before the panel.
GJSCI organized a Training Partners Meet to discuss priorities of the coming year along with the updates on various schemes and benefits.
According to the MOU, IIGJ – Jaipur will act as an RPL training facilitator, JAJ as Mobilization Agency and GJSCI will act as Project Implementation Agency (PIA).
Only unaccounted domestic cash holding can be declared through the new Income Disclosure Scheme and not jewellery, stocks, immovable property or overseas accounts.
New GHS, in spite of being compliant with interest rates, had lost steam due to regulations and Titan faced a tough time this fiscal wooing its customers back.
The new venture will serve as perfect platform for consumers to compare various jewellery saving schemes offered by reputed jewellers, evaluate key benefits, choose the best schemes and easily facilitate transactions online.
Developing Indian Hallmarking – A Roadmap for Future Growth A national hallmarking system is a crucial component of a successful gold monetisation scheme in India according to the World Gold Council, says their recently released report. Indian Jeweller
The Rs. 5.26 crore centre would be set up under Assistance to States for Development of Export Infrastructure and Allied Activities (ASIDE) Scheme of Central Government.
PC Jeweller honours Republic Day with new scheme launch Scheme to continue till Valentine’s Day for more celebrations
Commemorating India’s 65th Republic Day, PC Jeweller Limited has announced special offers to honor this day.