Snehal khanna Blog

The industry, however, needs clarity on standardised billing procedure for selling gold jewellery Latest news : Jewellers across the country are happy with the three per cent rate fixed on gold jewellery under the Goods and Services Tax (GST). The Centre has definitely considered the demand of the gold industry while fixing the rates. Currently, gold jewellers pay one per cent excise and 1.2 per cent value-added tax (VAT) over and above the 10 per cent customs duty on bullion. This effectively works out to 12.43 per cent. With the introduction of GST at three per cent for gold and 18 per cent for making charges, and keeping customs at 10 per cent, the effective rate comes to 15.67 per cent. So, the effective price escalation on gold jewellery comes to 3.24 percentage points. This is still a win-win for gold jewellers; they would not have expected anything better than this, particularly after the chief economic advisor's report of Rs 10,800-crore subsidy on gold.  ...

The recent rise in gold prices may not last, say experts Gold  prices have been rising in the international markets and touched a five-month high last week. In 2017, gold has already seen a rise of 13-14 per cent. This trend was mirrored in the domestic market too, where the price for 10 gms gold touched Rs 29,425, though the increase has been around 6 per cent or so, due to a stronger rupee. Is this reason enough for investors to buy gold again? Given that it is Akshaya Tritiya next week, an occasion when it is considered auspicious to buy gold, is this a good time to add gold to your portfolio? According to experts, while there may be a reversal in the fortunes of the yellow metal, it may not be sustainable. Hence, there is no need to stock up on gold investments. But if you have pared down your disposable gold investments, in the form of exchange-traded funds or gold bonds to zero, you could look at buying in dips from now on, but limit the purchase. In the last couple...