• M Kumaraswamy
• Shivakumara B

The price of gold after the adoption of the Goods and Services Tax regime has seen some fluctuations. The researcher has apprehensive that the tax would lead to a decline in demand for gold due to the high incidence of taxation. The GST for gold was fixed at 3%, with an additional 8% tax levied, as making charges. The tax on the making charge was then reduced to 5% due to concerns raised by various groups. India’s gems and jewellery sector is one of the largest in the world contributing 29 per cent to global jewellery consumption. At present the clever customers insist on hallmark certification and digital billing which is usually provided by the organised sector. Therefore, we can see a shift in customer base from organised to unorganised sector. From the seller’s perspective, India’s gold market is largely unorganized where as the organized sector, accounting for a relatively smaller portion of the market. The core objective of Goods and Services Tax is to eliminate the cascading effect and improve the supply chain efficiency by providing input tax credit. Even neutralizing the revenue to government is one of major problems to be considered while designing GST slab rates. In the business perspective, GST by optimizing cost, time and resources, ensures a healthy competitive environment in the global market. In the absence of strong anti-profiteering measures, price of goods and services are still in upward direction before GST. The market share of the organised gold market is very low while the unorganised gold market share is very large. Even though the introduction of GST the gold market has increased the transparency in market and this is applicable only to the organised market sector and not to the unorganised market.

GST , JEWELLEY,

"GOODS AND SERVICES TAX- AN IMPACT ON GOLD JEWELRY MARKET IN INDIA", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.7, Issue 9, page no.666-673, September-2020, Available :http://www.jetir.org/papers/JETIR2009088.pdf

"GOODS AND SERVICES TAX- AN IMPACT ON GOLD JEWELRY MARKET IN INDIA", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.7, Issue 9, page no. pp666-673, September-2020, Available at : http://www.jetir.org/papers/JETIR2009088.pdf