GST on gold to be announced on 3rd June
Posted on: 31/May/2017 11:32:33 AM
The GST slab on gold will be announced on 3rd June. The central government is intent on implementing the new GST system throughout the country from the month of July.
However, the central government is yet to decide on the GST slab for gold.
The president of the gold and diamond traders association explained that it is an age-old tradition for the Tamil people to invest in gold. The main reason for this is that the other investment avenues such as stock market and real estate are not reliable and they fluctuate. The GST slab on gold will be announced on 3rd June. It is expected to be under 2%. In case the GST slab is higher, it will affect in several aspects – gold price may increase and the smuggling of gold is also likely to be more.
