GST rollout: Gems & jewellery industry fully ready for July implementation

Industry hopes that the Centre would levy only 1.25% tax on the sector

The gems and jewellery trade is fully prepared for the goods and services tax (GST) regime, to be implemented from July 1, industry body All India Gems and Jewellery Trade Federation (GJF) said on Tuesday and hoped that the Centre would levy only 1.25 per cent tax on the sector.

It attracts 2 per cent tax (one per cent each of excise and value added tax) at present in most states except in Kerala.

"We are fully prepared to implement the GST. Our jewellers are ready. We have developed a software to create awareness on the issue," GJF Chairman Nitin Khandelwal told