Bad news for bullion: High GST rate could take much sheen off gold demand

If demand is affectted, money could flow from idle gold assets to other financial investments

The 15th meeting of good and services tax (GST) Council, scheduled to take place on Saturday, is expected to finalise the rates for all items that have been left out of the GST structure so far. Items for which the GST rates have not been fixed include precious metals, textiles, beedi, footwear and agriculture implements.

Higher GST rates to hurt unorgansied sector

The unorganised sector that has been left out of the GST slabs so far is likely be to impacted. The sector comprises at least 300,000 jewellers, and artisans with direct and indirect employment run into millions.

“Households