Service centres in every district have been set up to resolve GST related problems, Meghwal said
Although some confusion related to tax rates for the unpolished and polished diamonds continue to rage in Surat, the diamond hub of India, the Forevermark brand of diamonds, owned by De Beers, is not expecting the transitory muddle to impact its business in the country this year. Instead, it is eyeing to take market share from generic diamonds to increase its sales volume.According to Sachin Jain, president of Forevermark in India, some clarity in the GST (Goods and Services Tax) regime is impending on the diamond industry which can impact the market for the coming 2-3 months but therafter, branded players will register a growth trajectory."As a result of GST, there has been an additional 1-1.5 per cent tax increase on diamonds which I think will not dampen sales. There are so many things which aren't too clear but I believe soon we'll have clarity", Jain told Business Standard.The Forevermark price range starts from Rs. 50,000 and goes up to over Rs. 25,00,000.Under the GST regime, ..
He further said Jammu and Kashmir has also accepted the GST in the financial interests of the state
Traders with turnover below Rs 20 lakh in supply of exempted goods need not register under GST
There are over 4.5 lakh new taxpayers who have registered in the GSTN portal
The matter has been posted for further hearing on July 18
Tax revenue could drain away if rampant GST-free activity takes place in cyberspace
Only half a dozen sales tax consultants, service around 3,000 shops in Santiniketan and Bolpur
Apprehensions of certain quarters were allayed and special position of state was reaffirmed: Mufti
Different khadi and village industries products attract GST of 5-12%
Bullion dealers in India offered a discount of up to $1.20 an ounce
Javedekar was speaking at outreach program on GST, organised by Central GST And Central Excise Dept
Due to GST, the FIEO stated that about Rs 1,85,000 crore will get stuck with the government
The High Court has listed the hearing on the same for July 18
Earlier, Adhia said old jewellery will attract 3% GST under reverse charge mechanism
The industry may struggle to comply with rules initially
Services provided by an educational institution to students, faculty and staff are fully exempt
Efforts are being out to build a consensus among states, he said
The indirect tax regime of GST came into force on July 1
The taxpayer earning more than the exempted threshold will have to register with the GST Network