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GST to have Short Term Impact on Gold Demand: WGC

GST to have Short-Term Impact on Gold Demand

World Gold Council (WGC) has reported that Goods and Service Tax (GST) would be disruptive in the short term as the economy comes to terms with the new tax regime. Manufacturers and retailers would suffer shortage of working capital as their funds would be tied up in inter-state transfers of gold stocks.

Though, GST impact would be positive in the long term, the Indian gold market would face short-term challenges that would impact demand of gold and recycling of cash held by the retailers and manufacturers.

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