GST ON JEWELLERY BUYING

Recently India ushered into new age of taxation on 7th July 2017 buy introducing GST as one country one tax idea .

All the jeweler fraternity welcomed this move on the belief that this new tax regime will not only simplify the tax regime in the country but also will lead to transparent business practice in days to follow!

The Existing Tax system under VAT was 1% which was less considering GST rate of 3%, but still its a rate worth considering as most of other commodities are 5% and we are not paying any other taxes on it and removal of excise duty on jewellery is also a plus point !

We thank Government of India for showing Additional consideration for Jeweller Fraternity and introducing new slab of 3% for jewellery sector!

Customers now have to pay GST of 3% on all their purchases,1.5% will be charged as SGST (State GST) and 1.5% will be charged as CGST (Center GST) from july 1 2017!

Lets welcome GST and build NEW INDIA !!