- Gems and jewellery sector wants GST reduced to 1% in Budget 2025
- Current 3% GST rate is burden due to high gold rates
- Reduction in GST will benefit consumers and increase revenue collection
- Industry also seeks concessional GST rate for lab-grown diamonds
- Request for dedicated ministry for jewellery sector and revamp of EMI and Gold Monetisation Scheme
- Union Budget 2025 to be presented on February 1, 2025 at 11:00 AM IST
Source: a2ztaxcorp.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
