You are here: Home » Economy & Policy » News » GST
Business Standard

Struggling to adapt: GST could dampen gold demand in short-term, says WGC

Two-thirds of India's gold demand comes from rural areas, where jewellery is a traditional store of

Reuters  |  Mumbai 

A hike in taxes on gold sales in India could pressure short-term demand from the world's No. 2 consumer of the precious metal, the World Gold Council (WGC) said in a report.   Faltering appetite in a country where gold is used in everything, from investment to wedding gifts, could drag further on global prices, already trading near their lowest level in 7-weeks.   "In the short-term at least, we believe (the tax) may pose challenges for the industry. Small-scale artisans and retailers with varying degrees of tax compliance may struggle to adapt," the WGC ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Thu, July 06 2017. 14:41 IST
RECOMMENDED FOR YOU