One of the key regulatory bodies overseeing the jewellery market is the Bureau of Indian Standards . BIS sets high quality requirements as nicely as specifications for gold, silver, and different metals utilized in jewelry manufacturing. Under these regulations, jewelers must acquire BIS certification, and make positive that their merchandise meet the prescribed requirements. The Goods and Services Tax has a central function to play in regulating the jewelry business. Implemented in 2017, GST has streamlined taxation on this market by replacing a number of indirect taxes. It has additionally brought greater transparency to transactions as properly as decreased tax…

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