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Apr 25, 2017
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Low GST rate could hit small jewellers
There's a bit of a paradox in the lobbying by various trade and industry bodies of bullion dealers and jewellers for fixing the coming Goods and Services Tax (GST) rate not higher than what they pay on Monday.For, say experts, a lower GST rate could be detrimental to the small jewellers, the ones who get their saleable items done by job workers.This is the GST on job work charges would be 18 per cent. Whereas, to stay at the same level as the present levy, the GST on jewellery would be two per cent. Which is all that small jewellers may charge from customers, while they'd be paying much more to get the job work done.
Source -
http://www.business-standard.com
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