Gems, jewellery industry urges government to reduce GST to 1.25 pc on bullion, ornaments

The gems and jewellery industry in India has called on the government to reduce the GST on bullion and ornaments from the current 3% to 1.25%. Industry leaders argue that high taxation rates are harming businesses and promoting unregulated trade. Lowering the GST would support domestic production, job creation, and establish India as a global jewellery hub.