"Gold prices have moderated compared to last year. We are observing good traction in terms of buyers & volume growth," said Ajoy Chawla, CEO, Tanishq.
Lower prices, revival in economy and easing of Covid restrictions favour brisk sales
According to reports India imported 121 tonnes of gold last month.
The strike will be supported by 350 associations and federations from all four zones of the entire gems and jewellery industry, the GJC claimed
GST is payable only on the margin between the selling price and purchasing price. This ruling would reduce the GST on resale of second-hand jewellery
Retail sales for the June quarter are expected to grow at about 53% YoY, but revenues will most likely be 37% lesser than what it was a year ago
Only 30% of gold jewellery made in the country is hallmarked. The government has urged all jewellers to register with the Bureau of Indian Standards.
Gold hallmarking: To ensure jewellers adapt to the new system, the government has decided not to impose a penalty on jewellers for only three months
Gold hallmarking: However, watches, fountain pens and special types of jewellery will be exempted from hallmarking
Just like Kolkata, Covid-related restrictions have affected retail gold demand as some of the biggest markets like Mumbai, Chennai and Delhi either cl