Gem & Jewellery Domestic Council urges GST reduction on bullion to 1.25%
The All India Gem & Jewellery Domestic Council (GJC) has requested the government to reduce GST on bullion and precious ornaments from 3% to 1.25%. This adjustment aims to ease the tax burden on consumers, stimulate sales, and support the Indian jewellery industry in alignment with the 'Make in India' initiative.
Jewellery trade body All India Gem & Jewellery Domestic Council (GJC) has urged the government to rationalise the Goods and Services Tax (GST) on bullion and precious ornaments, reducing it to 1.25% from the current 3% to ease the burden on consumers and boost sales.
