Jewellery industry to take a year to stabilise post GST: WGC

The new taxation system will provide a more transparent environment as well as curb illegal trades

The gold jewellery industry is likely to take a hit in the goods and services tax (GST) regime and will take at least 12 months to recover.

Since the organised segment in the industry comprises only 30 per cent of the trade, it will need time to make the transition.

“Behavioural change is necessary in both the consumer and the trade and the inherent complexity of the supply chain will need to be factored in. It will also depend on the final tax impact and regulations,” Somasundaram P R, managing director, World Gold Council (India), said.

However, although the trade