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Get To Know How This New Era Of Hallmarking Will Affect Your Jewellery Business?

Hallmarking is the accurate determination and official recording of the proportionate content of precious metal in the jewellery/artefacts or bullion/coins. Hallmarking Scheme is currently voluntary. However, Quality control order for mandatory hallmarking of gold jewellery/artefacts has been issued on 15 Jan 2020 by the Govt. of India. Mandatory hallmarking of gold jewellery/artefacts shall come into force with effect from 01 June 2021.

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E-Invoicing under GST - What is E-Invoicing and its applicability?

‘E-Invoicing’ or ‘electronic invoicing’ is a system in which B2B invoices are authenticated electronically by GSTN for further use on the common GST portal. Under the electronic invoicing system, an identification number will be issued against every invoice by the Invoice Registration Portal (IRP) to be managed by the GST Network(GSTN). All invoice information will be transferred from this portal to both the GST portal and e-way bill portal in real-time. As per a recent update, a meeting between a high-level group of ministers will be organized where they will discuss GST E-invoicing for gold jewelers having a turnover below INR 500 crores.

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