Some jewellers mentioned they are now pushing studded jewelry where the margins are as much as 3x larger than plain gold jewelry. PhonePe and CaratLane introduced their partnership to enable shoppers to purchase jewelry by redeeming their amassed Digital Gold. Consumers can redeem their Digital Gold for a jewellery of their alternative at CaratLane and avail as a lot as 7% extra on redemption quantity.
Experts mentioned this ruling will scale back the GST payable on resale of second-hand jewellery. Currently, the business often expenses GST at three per cent fee on the gross sale value acquired from the purchaser. …