Jewellers suffer as GST hits jewellery sales hard

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Jaipur (Rajasthan), Oct 17 (ANI): Jewellery store owners in Jaipur are facing a considerable dip in sales ahead of Diwali. Blaming Goods and Services tax (GST) for the fall in business, jewellers said that the sales have decreased by 25 percent as compared to last year. After the implementation of GST on July 1, the gold and silver is being taxed at 3 percent, as opposed to 1.2 percent earlier. Apart from increasing prices up of some commodities, the new sales tax has anguished traders and small-time businesspersons because of multiple tax slabs and complex compliance procedure.

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