The goods and services tax (GST) Council in its 16th meeting held yesterday has slashed GST rate for jewellery making charges from 18 percent to 5 percent.
In an interview to CNBC-TV18, Sanjeev Bhatia, CFO of PC Jeweller explains the impact.
“This is not going to cause any impact on our profit and loss (P&L),” he said.
This is going to be a major change in the long run, Bhatia said.
He believes that if there is any GST impact, it would majorly be on the jewellers’ backend processes and systems and accounting but for customers, the things would not be any different.
For full interview, watch accompanying video...
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