The non-refund of Goods and Services Tax (GST) is taking a toll on jewellery makers with exports taking a hit in West Bengal, both in terms of export value and jobs. "Even I am forced to decline orders for January due to lack of working capital. Situation is no different for other exporters and manufacturers. Till now, an amount totalling Rs 60 crore is stuck with the government as GST refund, that too interest-free for the jewellery exporters.
The impact on business is about 50 per cent in value of exports during the last few months due to non-refund of GST and related issues. The last quarter is expected to be worse if things don't get resolved.
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GST issue is very powerful and its huge impact on jewellery market create a effect on capital market. it become a problematic situation for business men.and its impact also on Comex gold price
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