One of the key regulatory our bodies overseeing the jewelry market is the Bureau of Indian Standards . BIS sets high quality standards as nicely as specifications for gold, silver, and other metals used in jewellery production. Under these rules, jewelers have to acquire BIS certification, and be certain that their products meet the prescribed standards. The Goods and Services Tax has a central function to play in regulating the jewelry trade. Implemented in 2017, GST has streamlined taxation on this market by replacing a quantity of indirect taxes. It has also brought larger transparency to transactions as properly as…
