Friday, April 23, 2021
  • CCPA – California Consumer Privacy Act
  • Terms of Use
  • DMCA
  • Privacy Policy
  • Cookie Policy
  • About
  • Contact
Gold Investment
No Result
View All Result
  • Home
  • Gold
    • Gold Jewelry
    • Gold bar
    • Foreign Gold Coins
  • Platinum
    • Platinum Bars
    • Platinum Coins
  • Silver
    • Foreign Silver Coins
    • Silver Jewelry
    • Silver Bars
  • About
    • Cookie Policy
    • Privacy Policy
    • CCPA – California Consumer Privacy Act
    • DMCA
    • Terms of Use
  • Contact
  • Home
  • Gold
    • Gold Jewelry
    • Gold bar
    • Foreign Gold Coins
  • Platinum
    • Platinum Bars
    • Platinum Coins
  • Silver
    • Foreign Silver Coins
    • Silver Jewelry
    • Silver Bars
  • About
    • Cookie Policy
    • Privacy Policy
    • CCPA – California Consumer Privacy Act
    • DMCA
    • Terms of Use
  • Contact
No Result
View All Result
Gold Investment
Home Silver Silver Jewelry

Lower GST on diamond job work, sector cheers over Rs 200-cr export refund

Gold Investment Experts by Gold Investment Experts
in Silver Jewelry
2 min read
0
Lower GST on diamond job work, sector cheers over Rs 200-cr export refund
0
SHARES
6
VIEWS
Share on FacebookShare on Twitter

Related posts

Rose Quartz Ring Market Size 2020 By Global Business Trends, Share, Future Demand, Leading Players Updates and Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread) – Owned

Impact Of Covid 19 On Precious Metals Market 2020 Industry Challenges, Business Overview And Forecast Research Study 2026 – NeighborWebSJ

Yellow Metal Prices Fall to Rs 47,960 Per 10 gm, Silver at Rs 69,800 Per kg

Yellow Metal Prices Fall to Rs 47,960 Per 10 gm, Silver at Rs 69,800 Per kg


KOLKATA: The federal government’s transfer to slash items and providers tax (GST) on job work providers in diamond trade to 1.5% from 5% will assist arrest job losses in Gujarat, the nation’s diamond reducing and sharpening hub, and get exporters a refund of Rs 200 crore which was blocked on this account, mentioned trade executives.

Concurrently, silver exporters from Delhi, Jaipur and Mumbai is not going to must pay 3% GST upfront for importing the steel, as per finance minister Nirmala Sitharaman’s announcement on Friday. That is anticipated to spice up silver jewelry exports, which grew 102.6% yearon-year within the first 4 months of this monetary yr.

“Because of the excessive GST of 5% on job work many items needed to shut down in locations like Amreli, Saurashta, Bhavnagar and others, leading to job losses. Furthermore, capital bought blocked on account of this,” mentioned Dinesh Navadiya, regional chairman of Gem & Jewelry Export Promotion Council (GJEPC).

Of the practically two million individuals employed by Gujarat’s diamond commerce, 700,000-800,000 are engaged in reducing and sharpening of diamonds. The discount in GST comes at a time when profitability margins of diamond manufacturing firms are beneath stress. “This transfer will carry reduction on this depend,” mentioned Sabyasachi Ray, government director, GJEPC. India’s gem and jewelry exports fell 5.78% year-onyear in April-July to Rs 67,376.61 crore.

The federal government has granted exemption from GST and built-in GST on the time of import on silver and platinum by specified nominated businesses, and on provide of silver and platinum by specified nominated businesses to exporters for exports of jewelry. Diamond India (DIL) has been included within the checklist of nominated businesses eligible for IGST exemption on imports of gold, silver and platinum in order to provide at zero GST to jewelry exporters.

The speed of GST on minimize and polished semi-precious stones has been slashed to 0.25% from 3%. This can scale back the burden of working capital blockage and allow exporters to compete in worldwide markets.

Graph Diamond





Source link

Previous Post

Why boarding schools are helping to boost house prices

Next Post

CORRECTED-GLOBAL MARKETS-Markets tumble as big Fed move fails to quell virus fears

Next Post
PRECIOUS-Firm dollar weighs on gold prices amid virus threats

CORRECTED-GLOBAL MARKETS-Markets tumble as big Fed move fails to quell virus fears

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

WASPI: 1950s women hope 2021 will be a year of ‘fruition’ for state pension age aims | Personal Finance

WASPI: 1950s women hope 2021 will be a year of ‘fruition’ for state pension age aims | Personal Finance

Global Red Coral jewelry Market 2020 Industry Share, Development, Market Trends, Key Driven Factors, Segmentation, Size, CAGR Status and Forecast to 2026

Impact Of Covid 19 On Crystal Earrings Market 2020 Industry Challenges Business Overview And Forecast Research Study 2026 – Royal Sutton News

Is It Time To Buy The Blood On The Streets?

Is It Time To Buy The Blood On The Streets?

Silver bulls run out of gas fast; gold follows lower

Silver bulls run out of gas fast; gold follows lower

BROWSE BY CATEGORIES

  • Foreign Gold Coins
  • Foreign Silver Coins
  • Gold bar
  • Gold Jewelry
  • Platinum Bars
  • Platinum Coins
  • Silver Bars
  • Silver Jewelry

POPULAR NEWS

  • Miles Standish Designs Miss Liberty Silver Bullion Coins

    Miles Standish Designs Miss Liberty Silver Bullion Coins

    13 shares
    Share 5 Tweet 3
  • Palladium Surges above $2,400. Is It Sustainable?

    5 shares
    Share 2 Tweet 1
  • Bought Out? Why Shopping for Gold All of the sudden Obtained So Exhausting

    4 shares
    Share 2 Tweet 1
  • Gold positive factors safe-haven luster as jobless claims contact document

    3 shares
    Share 1 Tweet 1
  • Gold-Backed Cryptocurrencies Develop Premiums as Gold Demand Soars

    3 shares
    Share 1 Tweet 1
  • Price of gold reaches ‘record’ high

    2 shares
    Share 1 Tweet 1
Gold Investment Portal

Follow us on social media:

  • Home
  • Gold
    • Gold Jewelry
    • Gold bar
    • Foreign Gold Coins
  • Platinum
    • Platinum Bars
    • Platinum Coins
  • Silver
    • Foreign Silver Coins
    • Silver Jewelry
    • Silver Bars
  • About
    • Cookie Policy
    • Privacy Policy
    • CCPA – California Consumer Privacy Act
    • DMCA
    • Terms of Use
  • Contact

Recent Posts

  • Madinah’s Knowledge Economic City awarded $209m financing
  • Egypt raises domestic fuel prices for first time since subsidy reform

Recent News

Madinah’s Knowledge Economic City awarded $209m financing

Madinah’s Knowledge Economic City awarded $209m financing

Egypt raises domestic fuel prices for first time since subsidy reform

Egypt raises domestic fuel prices for first time since subsidy reform

  • CCPA – California Consumer Privacy Act
  • Terms of Use
  • DMCA
  • Privacy Policy
  • Cookie Policy
  • About
  • Contact

Copyright © 2020 Gold Investment. All Rights Reserved.

No Result
View All Result
  • Home
  • Gold
    • Gold bar
    • Foreign Gold Coins
    • Gold Jewelry
  • Platinum
    • Platinum Bars
    • Platinum Coins
  • Silver
    • Silver Bars
    • Silver Jewelry
    • Foreign Silver Coins
  • About
  • Contact
  • Terms of Use
    • Privacy Policy
    • Cookie Policy
    • CCPA – California Consumer Privacy Act
    • DMCA

Copyright © 2020 Gold Investment. All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary Always Enabled

Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.

Non-necessary

Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.