Good news to Jewelry Business from GST

Dear All,

As per 22nd GST council Meet press note, The Job work rate has been slashed from 15% to 5% on certain type of Job work which was not covered earlier by notification 11/2017, dated 28/06/2017

Notification in this regards is awaited.

 

Sr.No Particulars Old Rate New Rate
1 Job Work for Pearls , Strung mounted or Set 18% 5%
2 Job work in precious metals other than Jewelry 18% 5%
3 Job work for imitation jewelry 18% 5%
4 Job work services in relation to all products falling in chapter 71 (except mention in notification  11/2017, which was already in 5%) 18% 5%

 

 

Thanks and Regards

CA Aditya Shinde

V.P.Shinde&Co.

Chartered Accountants

www.shindecom.com

aditya@vpshinde.com

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