Non-ferrous
Non-ferrous
Base Metals
Rare Earth
Scrap Metals
Minor Metals
Precious Metals
New Energy
DashboardDatabaseProReportsEventsCar Insight
Language: 
Govt clarifies about 5 percent GST on Gold, Silver Rakhis
India has announced that Rakhi will not be charged with the Goods and Service Tax (GST) as the Cotton thread is used for Rakhi.
INDIA August 04 2017 4:06 PM
MUMBAI (Scrap Register): Ahead of the festive season of Rakhi in India, the government has announced that Rakhi the sacred thread that women tie on the wrist of their brothers on the day of Raksha Bandhan, will not be charged with the Goods and Service Tax (GST) as the Cotton thread is used for Rakhi.
However the Cotton thread used Rakhi will not be charged with GST, but the one with Gold and Silver rakhis will be charged with 5 percent GST.
The government also clarified that the Bengali sweet, sandesh will also be charged with 5 percent GST whether it contains chocolate or not, which clears a confusion over tax treatment of sweets that contain other substances.
The industry wanted clarification on tax rate on sweets containing chocolate, which attracts 28% GST.
india gold demand
gold prices
GST
For queries, please contact William Gu at williamgu@smm.cn
For more information on how to access our research reports, please email service.en@smm.cn
Related news
GST impact on Gold not as negative as had been feared
India’s gold imports held up better last month than many thought, said Commerzbank.
Aug 10, 2017 17:41
What impact will GST have on Indian gold sector?
India is all set to roll out the biggest tax reform in its history.
Jun 30, 2017 18:57
Commerzbank: Chinese, Indian Demand Figures Pick Up
Recent data reflect a pickup in gold demand in China and India, reports Commerzbank.
May 2, 2017 16:17
SMM Events & Webinars
All- Oct29
APAC TIN INDUSTRY CONFERENCE 2024
Oct 29 - 30,2024Shenzhen·Guangdong·China
- Nov05
APAC (9th) Stainless Steel Industry Conference 2024
Nov 05 - 07,2024Fujian, China
- Nov24
2024 SMM Middle East Secondary Metal Filed Trip
Nov 24 - Dec 01,2024UAE
Shanghai Metals Market
Privacy PolicyCompliance CentreSMM Credit ServiceContact UsAbout UsTerms & ConditionsSitemapHoliday Pricing Schedule
Notice: By accessing this site you agree that you will not copy or reproduce any part of its contents (including, but not limited to, single prices, graphs or news content) in any form or for any purpose whatsoever without the prior written consent of the publisher.
Drop us a line
service.en@smm.cn
How can we help you?
+86 021 5155-0306
Live chat via WhatsApp
Copyright © 2024 SMM Information & Technology Co., Ltd. All rights reserved.
