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Tag "GST"

GJEPC Asks Banks to Adopt Its KYC Databank to Finance Diamond Trade

GJEPC Asks Banks to Adopt Its KYC Databank to Finance Diamond Trade 0 Updated

🕔10:05, 20.Mar 2019

Mumbai: Gem & Jewellery Export Promotion Council (GJEPC), a nodal trade body sponsored by the commerce ministry, is pursuing banks to adopt its online know your-customer databank of 2,500 exporters as a means to mitigate risk and improve lenders’ perception of the trade rocked by the

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Jewellery Manufacturers Appeal to Election Officers to Not Disturb Business

Jewellery Manufacturers Appeal to Election Officers to Not Disturb Business 0 Updated

🕔10:47, 14.Mar 2019

A day after the model code of conduct came into force, the Coimbatore Jewellery Manufactures Association submitted appealed to the state election commission to not disturb flow of their business. They appealed for election officers to not detain people carrying

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Gold Coins For Free Distribution May Not Qualify for Input Tax Credit

Gold Coins For Free Distribution May Not Qualify for Input Tax Credit 0 Updated

🕔10:30, 14.Mar 2019

Giving free gold coins could prove expensive for businesses as it is unlikely to be classified for input tax credit (ITC). In sync with the Authority for Advance Rulings in Maharashtra (AAR Maha), the Finance Ministry has said ITC shall

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GST, Cash Flow Issues Take Glow Out of Gem, Jewellery Sales

GST, Cash Flow Issues Take Glow Out of Gem, Jewellery Sales 0 Updated

🕔10:36, 12.Mar 2019

Sale of gem and jewellery is likely to drop 10-15 per cent in the current financial year due to Goods and Services Tax (GST), high gold price and cash flow issues, according to N Anantha Padmanaban, Chairman, All India Gem

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High Value Cars, Jewellery to Become Cheaper as TCS to be Excluded in Computing GST

High Value Cars, Jewellery to Become Cheaper as TCS to be Excluded in Computing GST 0 Updated

🕔10:34, 11.Mar 2019

In a relief to buyers of high value cars and jewellery, the CBIC has said that the TCS amount would be excluded from the value of goods for computing GST liability. Under the Income Tax Act, tax collection at source

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Not Enough Credit, Late GST Refunds a Concern for Exporters: Industry Tells Govt

Not Enough Credit, Late GST Refunds a Concern for Exporters: Industry Tells Govt 0 Updated

🕔11:33, 22.Feb 2019

The persistent decline in bank lending for exporters, delay in refund of input tax credit and the fear of a withdrawal of duty-free export benefits by the US under the so-called GSP regime dominated the discussion at a meeting of

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Why Diamond Industry is Being Hammered

Why Diamond Industry is Being Hammered 0

🕔05:03, 1.Feb 2019

The Indian diamond industry has a historical background. The industry upholds the Indian ecosystem and further, contributes to incrementing exports. Primarily, the Gem and Jewellery sector play an imperative role in the Indian economy, contributing around 7 per cent of

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