 "GST: Gold importers, exporters to face several operational issues")
The financial cost of importing gold and diamond is set to increase on account of Integrated Goods and Service Tax (IGST), as importers' capital is likely to be blocked until refund comes. Even as exporters propose to raise bank guarantees to avoid refund complexities, domestic bullion traders, as well as importers and exporters of gold are expected to face several operational issues when GST is implemented from July 1.
The bullion industry is generally happy with the three per cent GST rate applicable on gold, but it remains worried about the operational difficulties of doing business. Industry players have made
