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Indian jewellery retail is the second-largest jewellery market globally, regulated by the Bureau of Indian Standards (BIS hallmarking mandatory since June 2021), the Drugs & Cosmetics Act for cosmetic-grade items, and a unique GST treatment (3% on gold, 18% on making charges). FilingLab handles BIS registration, GST setup with making-charge reconciliation, mandatory cash-transaction reporting (Form 61A for transactions above ₹2 lakh), and PMLA compliance for jewellers above ₹50 lakh annual turnover.
Quirk to know
Gold jewellery: 3% GST on gold value, 5% on making charges (or 18% if billed separately). Cash transactions above ₹2 lakh require Form 61A filing. Jewellers with turnover above ₹2 crore must register under PMLA. BIS hallmarking is mandatory for all gold articles.
A CA who has worked with similar businesses will call within 2 hours.
What you actually need
FAQ
Yes — mandatory since 16 June 2021 for all gold articles in 256 districts (covering 95% of jewellery sales). BIS registration takes 30-45 days; we handle end-to-end.
3% on gold value + 5% on making charges (when bundled) or 18% on making charges (when billed separately). Diamond jewellery: 0.25% on diamond + 3% on gold + making charges treatment.
Yes if turnover exceeds ₹50 lakh / year. Designated as Reporting Entity under PMLA — must file STR (Suspicious Transaction Reports) with FIU.
Mandatory if you accept cash above ₹2 lakh in a single transaction. Filed annually by 31 May to the Income Tax Department.