Here is the gist of LBT rules and rates which are applicable for jewelers (Retail as well as Wholesale).
First of all let me talk about rates.
Points to be kept in mind
The rates in Sr. No. 1 is to be applied only if purity of gold or silver is more than 50% i.e if less than 12 carat then will not be classifiable under the above table and will have to pay 5%
First of all let me talk about rates.
| Sr No | Commodity | Rate |
|---|---|---|
| 1 | Jewellery made up of gold, silver, diamonds, any precious stone | 0.50% |
| 2 | Bars , coins of Gold, Platinium, Rhodium | 0.10% |
| 3 | Bars , coins of Silver | 0.50% |
| 4 | Loose - Diamonds, Presious Stones, Pearls | 0.10% |
| 5 | Imitation Jewellery | 2% |
| 6 | Jewellery made up of other metals than gold , silver | 2% |
| 7 | Any part of jewellery made up of plastic, bead, glass, rubber | 2% |
Points to be kept in mind
The rates in Sr. No. 1 is to be applied only if purity of gold or silver is more than 50% i.e if less than 12 carat then will not be classifiable under the above table and will have to pay 5%
