The government will soon implement one country-one gold price from Kashmir to Kanyakumari

Per Gold Price: Among the precious metals, gold price no longer varies across different bullion markets in the country. Kashmir to Kanyakumari will be same price. A single country-same price policy will be implemented to sell gold at a single price in the country. Media reports said the government will implement the one-country-one-rate policy in August and it will start from eastern India. Swarna Shilpa Bachao Samithi President Samar Kumar Dey has argued that the One Nation-One Rate Policy may start from East India, which will begin with the implementation of a flat rate for East India from August. Samar Kumar Dey said that all stakeholders have shown interest in the idea of ​​a uniform gold price across the country. He said we will start one country-one price for Bengal and East India from August. We have also included gold dealers in this initiative. All India Gems and Jewelery Domestic Council (GJC) President Sanyam Mehra said that gold traders will get a level playing field, adding that the objective of one-country-single-price policy is to provide parity to all stakeholders associated with the gold business and prevent depreciation. Apart from this, it is also said that gold smuggling will also be prevented by this move of the government. Union Finance Minister Nirmala Sitharaman has proposed to reduce customs duty on gold and silver from 15 per cent to 6 per cent in the Union Budget 2024-25. Industry officials said that the massive reduction in customs duty could end gold smuggling. Diamond importer Sunny Dholakia said: Out of the total 950 tonnes of gold imported into India, it is estimated that 100 tonnes of gold is smuggled. Also Read: LIC stock rises to lifetime highs Appeal of lower tax rate on gold jewellery, worry over govt's gold reserves Any other plan related to Goods and Services Tax (GST) The All India Gems and Jewelery Domestic Council has appealed to the GST Council to reduce the tax rate on jewelery to 1 per cent from the current 3 per cent. Also Read: Mehndi Price: Know Actual Price Before Applying Mehndi on Hariyali Teej, Shoppers Can't Cheat The post From Kashmir to Kanyakumari, Govt to implement soon. .