Publication

Abstract : Goods and Services Tax is an Indirect tax. GST mainly designed to maintenance the economic growth of the country. More than 150 countries have implemented GST. There are mixed response, squabble and opinion among the agents, constructions and society about GST. GST was implemented by the government of India from 1st July 2017. GST has a significant role in Indian tax system. The paper mainly concentrated on miscellaneous industry, miscellaneous manufacturing sector makes variety of products, that products cannot be classified into other sectors of manufacturing. Medical equipment, jewellery, sporting goods, toys and office supplies are the products which are produced under miscellaneous sectors. Miscellaneous industry is grouped into different catagories.one of the significant group of miscellaneous industry is industry group 391: Jewellery, Silverware, and Plated ware. GST in gold sector has moderate impact on jeweller’s working capital having to pay 3% GST on Gold. Past the gold tax was 1% service tax and 1% VAT, amounting to 2%. GST has improved the tax rate of gold to 3%. GST will bring better clearness to the supply chain and bring more of the gold market into the proper sector. © IAEME Publication Scopus Indexed.