Gold to shine under GST :WGC

Delhi, June 9: A good news for gold buyers. World Gold Council (WGC) has published a report on Thursday regarding the impact of GST on gold.

The main highlights of the report are

* The gold industry will have a positive impact on the Goods
and Services Tax (GST) regime.
* The industry will go through a phase of transition and
would rise in the future.
* New Indirect Tax reform is the biggest reform taken since 1990
when economic reform took place.
* GST will bring in more transparency as well as efficiency to the
gold supply chain.
* The economy of the country will increase.

Finally, the WGC has expressed satisfaction for imposing a 3 % tax on gold and jewelry.