Gold prices gained further at the domestic bullion market here on sustained demand from jewellery stockists and retailers.
The government said there is no proposal under consideration to reduce import duty on gold.
Amendments to the I-T laws do not seek to tax inherited gold and jewellery as also those items that are purchased through disclosed or agriculture income.
Global gold demand down 10%. ETPs saw 146 tonne of inflows but jewellery was down 21%, bars and coins 36% and purchases by central banks 51%.
Subramanian says GST rate on gold to be taken by Committee of Secretaries.
A weak trend in the precious metals overseas mainly led to the fall in gold prices, bullion traders said.
Government will extend full support to the gems and jewellery exports as it is recording healthy growth.
Manappuram CEO and managing director VP Nandakumar says company’s cost of borrowing will fall below 10 per cent in another quarter.
Ambit Investment Advisory CEO Andrew Holland says there is now a concerted move by central banks to get yields higher.
After rivals Amazon and Flipkart, e-commerce major Snapdeal has now launched a premium service for its customers called Snapdeal Gold.