Tuesday, 19th April 2005 (4222 views)

India has now officially clarified that jewellery that has a mark, sign or manufacturer's initial will not be seen as branded and will not need to have tax paid on it.

A two per cent tax will need to be paid on branded jewellery in India under new rules.

The tax covers "those who use a symbol, monogram, label, signature or writing that connects the product and the person using the name and mark".

According to Rapaport, Mumbai's Assistant Commissioner of Central Excise has now officially confirmed the jewellery ruling and exemptions.

India is set to promote the gold jewellery trade in the country in the upcoming Gold Jewellery India International Exhibition 2005 to be held in Chennai, the first business-to-business trade fair for India.

 

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