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Tag "Surendra Mehta"

Gujarat: Tax at source leaves jewellers in woe

Gujarat: Tax at source leaves jewellers in woe 0

🕔12:17, 7.Oct 2020

AHMEDABAD: The imposition of 0.075% tax collection at source (TCS) from October 1, has left jewellers and gold traders staring at severe working capital crunch, amid an already slowed business. According to analysts and industry experts, the implementation will prove detrimental for small bullion traders and jewellers.

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Jewellers unlikely to achieve 100% gold hallmarking by June 2021: IBJA

Jewellers unlikely to achieve 100% gold hallmarking by June 2021: IBJA 0

🕔17:49, 30.Jul 2020

Jewellers across the country are unlikely to achieve 100% gold hallmarking by June 2021, the new deadline set by the government, according to the India Bullion and Jewellers Association (IBJA). At present, only 30,000 jewellers out of the nearly 300,000

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Jewellers bargain on rent, pare store sizes and stocks to stay afloat

Jewellers bargain on rent, pare store sizes and stocks to stay afloat 0

🕔18:06, 28.Jul 2020

The Rs 475,000-crore Indian jewellery sector has entered a consolidation phase with jewellers renegotiating for a 25-30 per cent of cut in rent, reducing store sizes and inventories, and pruning other fixed costs including labour and technology for survival. This situation has

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Falling sales are making jewellery manufacturers think twice about rehiring migrant artisans

Falling sales are making jewellery manufacturers think twice about rehiring migrant artisans 0

🕔17:29, 20.Jul 2020

Most of the artisans, or karigars, who work at jewellery manufacturing hubs in the country hail from West Bengal. Jewellers are ready to take them to work only if they take half of their salaries for at least three months

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India’s June gold imports plunge on record price, lockdown

India’s June gold imports plunge on record price, lockdown 0 Updated

🕔15:09, 3.Jul 2020

India’s gold imports plunged 86% year-on-year in June due to record high prices and as international air travel was banned and many jewellery shops closed amid a nationwide lockdown to curb the spread of coronavirus, a government source said. The world’s

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Indians not selling old gold, but raising loan against it

Indians not selling old gold, but raising loan against it 0 Updated

🕔14:27, 3.Jul 2020

Economic uncertainty unleashed by the Covid-19 pandemic is still not persuading India’s gold hoarding lot to sell their household gold even in the midst of a surge in the price of the yellow metal, said gold traders in Zaveri Bazaar,

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To avoid China, Indian jewelers may import pearls from other countries

To avoid China, Indian jewelers may import pearls from other countries 0

🕔15:31, 23.Jun 2020

The first such move has been taken by Bengaluru’s C Krishniah Chetty Group of Jewellers. The 150-year old jewellery brand said its gemologists will stop procurement and use of Chinese-origin pearls, and instead will use Japanese or Venezuelan or Indian

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Jewellers, traders seek more time for hallmarking

Jewellers, traders seek more time for hallmarking 0

🕔16:19, 9.Jun 2020

Jewellers and bullion traders have urged the government to extend the deadline for mandatory hallmarking by a year to January 2022, saying the loss of business and demand slump due to the coronavirus pandemic will make hallmarking of any unsold

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Zaveri Bazaar remains deserted as cautious customers hold back

Zaveri Bazaar remains deserted as cautious customers hold back 0

🕔15:53, 9.Jun 2020

Asia’s largest jewellery and bullion hub, Zaveri Bazaar, bore a deserted look on Day 2, as stores remained shut due to paucity of staff, many who have returned to their native places, and lack of customer footfalls. The jewellery hub,

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Zaveri Bazaar opens today after 10 weeks, traders feel it’s a positive sign

Zaveri Bazaar opens today after 10 weeks, traders feel it’s a positive sign 0

🕔14:54, 6.Jun 2020

Zaveri Bazaar, Asia’s largest gold market, reopened on Friday, after 10 weeks of shuttering, injecting life into India’s tepid bullion and jewellery trade that relies heavily on this South Bombay commercial landmark for business volumes and leads. Adhering to the odd-even formula spelt out

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