• ISHA SHANKAR
• SOMESH KUMAR SHUKLA

GST (Goods & Service Tax) is a comprehensive, complex as well as destination-based tax that came into force in India with effect from 1st July 2017. It has replaced all the prevailing indirect taxes. Under the scheme of GST, tax is imposed at every stage of sales. The GSTis levied at both centre as well as state level. It is basically technology driven since all the registration including other technical formalities are done online so as to speed up whole process. Also, GST is considered as a taxation reform in the country since it claimsto remove the defects of the traditional multi-taxation system.At the same time, it ensures transparency in tax imposed, regulation of unorganized sector, efficiency in logistics, lesser complexities along with simple procedures. It was assumed that GST could greatly impact the jewellery sector, rather a negative impact.According to the initial announcements, jewellers were levied to pay 3% GST on the gold jewellery. Because of this impact of GST on gold, there was a decline in the demand for any of the gold object.The reason behind this was not only 3% GST but also 10% import duty that was levied on gold. The tax that was levied on gold prior to GST was 1% of service tax along with 1% of VAT, which amounted to 2%, but GST raised this tax to 3%.

GST, Indirect tax, taxation system, Gold.

"A STUDY OF IMPACT OF GOODS AND SERVICES TAX IN INDIA WITH RESPECT TO GOLD JEWELLERY SECTOR", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 4, page no.515-521, April-2019, Available :http://www.jetir.org/papers/JETIR1904B78.pdf

"A STUDY OF IMPACT OF GOODS AND SERVICES TAX IN INDIA WITH RESPECT TO GOLD JEWELLERY SECTOR", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 4, page no. pp515-521, April-2019, Available at : http://www.jetir.org/papers/JETIR1904B78.pdf