Small diamond units in Gujarat say doing business in the goods and services tax (GST) regime has become difficult due to increased compliance requirements and uncertainty over when they will get input credit refund. The nearly 50,000 small and medium units in Surat and Saurashtra employ close to …
Tag: Praveen Shankar Pandya
Demonetisation: India’s stone cutting SMEs hit, global diamond business loses sheen
The global diamond industry is facing disruption that could stretch through the first few months of next year, including Valentine’s Day in February, as a result of Prime Minister Narendra Modi’s radical move to abolish most of the nation’s cash overnight. In Surat, craftsmen us…
Demonetisation Effect | Jewellery demand plunges 80%
Gold jewellery demand has fallen 80 per cent since demonetisation was announced on November 8 despite the on-going peak marriage season. The fall in demand comes even as gold prices in Mumbai dipped to Rs. 29,000 per 10 grams on Monday from Rs. 31,150 registered on November 10, the day after demo…