Importance of Gold

The following link describes the importance of having PHYSICAL Gold in your investment portfolio or simply as an asset!

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Importance of Gold

All that glitters is not Gold...! But All that is Gold is not Black too!

The topic is Excise on Gold JEWELLERY...!!!
Yes  on JEWELLERY! A Handloom/Handicraft industry.
Which has brought laurels to India's craftsmanship and artistry since times immemorable.

To be short- Government of India has levied an excise duty of 1% on Gold Jewellery.

And all jewellers across India are on strike since 2nd march, 2016.
And most of the media has been dumb in last 39 days strike.

No weightage is given to this issue so far despite long peaceful strike.
Whereas government rapidly considered Jat for a  reservation after violent stir.
That shows how government pays a heed to sensitive issues.

In the coming days it will be easy to import gold jewellery from dubai, singapore, thailand etc. and sell here in 

India than to manufacture in India and then sell here.

There are many supporting clauses from the government side to support their view on excise.
They would have been anyways, because they have a fully loaded machinery to do so and levy whatever they feel to do.
On the otherside the Jewellery industry, who was not prepared for such a sudden lash on to it, has to first consider all points and consequences of this unclear levy and then respond. Which makes it vulnerable at many points
People have been mocking jewellers and also painting jewellery industry in black, without knowing the full story. They are right as they only know what is delivered to them via state sponsored/controlled media.
So here we will be trying to bring the actual picture...! As to why jewellers are instigated.
We will try to clear certain doubts that get lost in actual debates, on a point to point basis.

1) Excise is important, Gold jewellery is a luxury item and cant be kept untaxed.
Answer:- Gold is not untaxed. Its is heavily taxed already. More than 90% of indigenous demand of gold is met through import. There is an import duty of 10% !! Thats not enough, then wait, Gold Jeweller has to deal with a whole lot of taxes like VAT, cess, Service tax, Income tax, professional tax, wealth tax etc..!
Jewellery is not a luxury. Indian traditions bound every household to buy gold/silver jewellery according to its status. Even Income tax laws consider Jewellery as an essential 'streedhan' .
Ok beyond that legal limit of 'streedhan' can be considered luxury. But you are already taxing it heavily.
Why excise only? thats only what was actually left to be levied.

Excise is levied on manufacturing. In making jewellery major amount is of gold raw material whereas labour charge is just a small chunk of the cost, say 10-15% approx!

If gold is luxury then what is diamond? Why no excise on that! Is that to favour modi ji's gujrat vote bank, from where 95% of diamonds are processed.

If gold is luxury then why govt. keeping its reserves on Gold! Think of some other alternative first.

2) India imports 1000 tonnes annualy (aprox.) and there is record for only 300 tonnes, where does the remaining 700 tonnes goes!
Answer:- This is the main problem and here lies the solution itself.
Don't tax jewellery. Anyone with black money will not buy gold jewellery which is already taxed upto 15-20% and pay additional making charges of approximately 10-20 % more (total comes out to be 25-40%) just to hide his black money.
Infact black money holder will buy real estate or gold bullion.
Yes gold bullion. Tax that instead. But govt. has kept that out of the ambit.
There is where the major portion of shadowy 700 tonnes might be going. But might be that frustrate higher authorities as they have most of the black money, and dont want to close that avenue for themselves. There is no use of squeezing poor manufacturers. Problem is up there and not down under.

3) Excise is kept at a nominal rate just to check Black Money
Answer- Excise is already in many fields and industries, are they working streamlined without any leakages, minus any corruption? Are those businesses not harrassed by excise officials? Excise babus are the most corrupt. When govt itself says that no official will harass jewellers, it itself is acknowledging the real problem! Problem is who buying the gold bullion and not who selling gold jewellery! Jewellers are not the culprit, infact big businesses, celebrities, ministers, land mafia etc. are. Even govt acknowledges this. Jewellers are ready to sell all stuff on bank checks, but are people ready to buy in white? Is there an infrastructure in place with PAN cards, adhar, IT Payees in place yet? First those things need an attention. Others will fall in tandem automatically.

4) No excise official will visit premises of jewellers.
Answer- There is no clear notification by FM regarding this. Such an assurance is there only on FM's circular dated 21st March, 2016 , which says on forming a committee to look into jewellers concern and submit a report in 60 days. And the said relaxation is only for those 60 days. What after that?
How will an excise babu ensure that the return filed is legitimate. Will he take orders from FM before going to any jeweller? Or FM is going to make certain special amendments to its general excise law to give relaxation to jewellers? Its not going to happen.

5) Gold sold is impure
Answer- People buy gold from family jewellers, and if they found themselves been cheated so far then they wont be visiting the same jeweller for decades to buy jewellery. But still 2-5% of bad people are there in any field. All can't be painted red. Most Jeweller community not opposing mandatory hallmark bill. Its rather a way to retain customer's trust.Thats an opportunity not a burden for jewellers. We as jeweller community are not adamant on this issue. Infact all big jewellers already selling hallmark jewellery themselves.

6) Excise is easy and online
Answer- Even income tax, VAT etc are online but still people have to pay bribes to babus and keep all records and suffer harrassment. Basic phobia for jewellers is the harrassment on the hands of another department. All mature jewellers remember the Gold control act era from 1960's to 1990's.

7) TDS on sales of and/or above Rs 2 lakhs.
Answer- This is very petty amount considering the price of gold. This needs to be kept to the previous level of Rs 5 lakhs so that every citizen feels safe to buy jewellery and buy it in white without the fear of been caught by tax officials. That will create a more open economy and people will easily move to white transactions.

8) Excise on gold jewellery is a move towards GST
Answer- Gold jewellery can be moved into GST format without bringing it under excise. There is no such provision that you have to first move it into excise before bringng in GST! This is ridiculous. You want to keep Gold Jewellery in the higher bracket of GST, you can do so, no problem. But you dont need to first move it into excise and cause so much touble.

Chalte chalte...

What happened to Modi ji's make in India ease to do business, slogans!

Were those just a jumla as the other promises!

Why is govt not listening to this peaceful protest so far?

90% of Jewellers community was supportive to bring BJP to power because it prentended to be supportive for a free business environment. But now its behaving like a dictator. Atleast its bringing out such feels by Modi ji frequently denying meeing time to senior leaders of Jewellery associations trying to meet him.

Even congress led UPA government brought this similar thing in its 2012 budget. But latter reiterated it back learning that its a wrong step. That time Modi ji along with the likes of Sushma swaraj ji were in support of jewellers.

If something was wrong then, why its right now!

If something was right then, why Modi ji wasted country's 4 years by standing against this law.

•Jewellers are a community that itself shunned reservation quota ( and not fight for quota like recent stir in haryana).

•Jewellery is the major earner of foreign exchange after softwares.

•Jewellery industry gives direct employment to atleast 1 crore people and indirectly to 4 crore ( figured increase if you calculate the families associated with them)

•Jewellery industry is the one which has shown wonder results without any direct help from the govt.

•Jewellery industry is  bigger revenue generator ( 30000 crores annually approx.)

•Jeweller is the one who wishes that auspicious occassions keep happening in you home and you keep visiting him for good.

•Jeweller is the one who helps you out of your financial crisis by buying your gold assests. More deductions or less deductions might be an issue but what other investment gives you liquidity, increment, safety all at one time?

In nutshell-

•Roll back excise completely for Gold jewellery.

•Think of increasing other prevalent taxes on jewellery.

•Get hold to sale/purchase of bullion and not jewellery.

•Try to Make doing business in India an easy task.

Having said that all:-

JEWELLERS ARE NOT AFRAID OF 1% ADDITIONAL TAX, THEY ARE AFRAID OF 100% HARRASSMENT BY EXCISE DEPARTMENT

Can government solve that first!

Regards

NJ

(The facts & figures mentioned above are gathered from different relevant sources available online and elsewhere, and there might be variations)

Significance of Investing in Precious Metals

Which of your investments has a 5,000-year track record?

 

Of all the choices available to today’s investor, only precious metals have all of these characteristics:

 

·      Universal Liquidity

·      Indestructibility

·      Portability

·      Beauty

·      Scarcity

·      Utility

·      A valued investment for more than 5,000 years

 

DEFINITION of 'Precious Metals'

A classification of metals that are considered to be rare and/or have a high economic value. The higher relative values of these metals are driven by various factors including their rarity, uses in industrial processes and use as an investment commodity.

Precious metals include, but are not limited to: gold, silver, platinum, iridium, rhodium and palladium.

Precious metals have been recognized as inherently valuable throughout recorded history. Unlike any other asset, precious metals possess a unique combination of brilliance, scarcity, workability, utility and durability. They have played key roles in the economic, industrial, scientific and artistic development of every human civilization.

 

Today, precious metals are also a critical part of a well-diversified investment portfolio. They are tangible assets that function like a global currency offering security in times of political or international unrest, or economic uncertainty. Investors holding precious metals bullion enjoy the peace of mind that comes from owing the most universally accepted and liquid form of asset.

 

By including precious metals in your investment strategy, your portfolio will:

 

·      Include an alternative asset that distinguishes its return potential from stocks and bonds

·      Maintain purchasing power, as the intrinsic value of your holdings will not fluctuate over time

·      Serve as a hedge against inflation in times of economic uncertainty

·      Provide a safe haven in times of political or international unrest

·      Embody a diversity by combining stocks and bonds with a commodity investment

Investing in precious metals can be done either by purchasing the physical asset, or by purchasing futures contracts for the particular metal. Another way to gain investment exposure to precious metals is to purchase shares in publicly traded companies that deal in the exploration or production of precious metals, such as a gold mining company.

Buying an artistic Jewellery piece is always also considered a significant option..! Investing in precious metals is like INVESTING IN LOVE......

Regards

NJ

National Jewels's grand reopening

The newly renovated National Jewels, a chic boutique style showroom, reopened last month in the heart of Yamuna Nagar. With their range of trendsetting designs in Kundan, Diamond, Diamond solitaires, and Antique Mughal-style jewelry, proprietors Mr. Rohit Narang and Mr. Mohit Kumar are all set to revolutionize the contemporary Indian traditional jewelry.

It is a one of its kind Hallmark jewelry showroom with a superbly talented in house design team and an office in New Delhi too to cater to all their retail clientele. The new store launch was a grand event, with the Chief Guest being Honourable Mr. Ghansham Dass Arora, MLA, Yamuna Nagar.

The skilfully crafted designs themselves are delicate, intricate and fabulously beautiful – they can be worn with a wide range of evening attire, both Western and Indian traditional outfits. They combine modern day craftsmanship with contemporary designs and styles, making every piece a perfect blend of grace and beauty.

FOR COMPLETE POST CLICK HERE:- http://stylearia.com/?p=1463

Regards

NJ

Royal Bra

Walking in the annual Victoria’s Secret show, which is watched by millions of people worldwide, is already considered the greatest honour in lingerie modelling. And this year the honour go to 23-year-old Candice Swanepoel.

The $ 10 million Royal Fantasy Bra, designed by Mouawad, is adorned with over 4,200 precious gems from around the world including rubies, diamonds, and yellow sapphires. Hand set in 18 carat gold, the bra also features a 52 carat, pear shaped centre ruby.

Regards
NJ

Rare Royal Rajasthani Art - Silver Furniture

India is a place filled with immense caliber that produces art in many forms, that have left the world spell bound.

One of this is Rajasthani Art.
Amid myriad art forms produced by rajasthan, one  that has been able to sustain and keep improving by every passing generation is SILVER FURNITURE.
Silver furniture, inspired by royalty, was an integral part of the ancient interior designs of palaces and represents a rich statement of class and style. In this art form intricately carved teak wood is clad and crafted with fine silver. The 99% pure silver is hammered to desired shapes and finely re-carved with intricate hand engravings on teak surfaces by highly skilled artisans and produce exquisitely appealing furniture.These English, Victorian and traditional Indian style of silver furniture is a big craze in the overseas market. The product range includes:-

·         silver beds

·         silver chairs

·         silver coffee table

·         silver dining table

·         silver diwan and couches

·         silver mirror frames      

·         silver sofa set

·         silver swings

·         silver tables

·         silver temples

and so on..

Besides being pioneers & front runners in the area of Exclusive Gold, Diamond, Kundan jewellery, we at NJ are deeply involved in the process of this Royal Rajasthani art form of Silver Furniture.

We have successfully completed orders of such kind in many temples and sold good deal of this kind of royal furniture to our esteemed clients worldwide.

A glimpse of painstaking procedure of making this art form is shown in the visual embedded herewith.

We all must respect art, it spells the basics of human existence. An art form embeds, in itself, many stories of an era gone.

If art has a purpose, it is to interpret life, reproduce it in fresh visions. (Catherine Drinker Bowen)

Regards

NJ

Its a Mystery

Why this yellow metal continues to fascinate men and women alike through eons!
How many stages does a chunk of gold passes through to acquire a shape that deserves acceptance as an ornament!
How designers and artisans work hand in hand to produce infinite varieties day-in day-out to give you absolute latest!
Its a mystery

Scientists Discover Way to Turn Gold and Silver Different Colors

Scientists at the University of Southampton in the United Kingdom say they have discovered a method that can make metals appear to be different colors.

The method embosses tiny raised or indented patterns called nano-patterns onto the metal’s surface

FOR DETAILS VISIT THE FOLLOWING LINK ( A POST FROM WWW.JCKONLINE.COM )

http://www.jckonline.com/2012/10/25/scientists-discover-way-to-turn-gold-and-silver-different-colors

Regards

NJ

History of Gold (Info-graphic)

Here is an information we found on net and wanted to share with you.
Its a nice info-graphic on Gold

If the above pic is not clear, you may also click the following link to the picture source:-
http://www.visualcapitalist.com/portfolio/gold-history-of-gold-part-i


For recent joiners of our blog, we would like to state that we shared a similar info-graphic on gold on this very blog previously too and the link to that is:-
http://nationaljewels.blogspot.in/2012/01/fascinating-gold-facts.html

Hope you find the info useful and interesting.

Regards

NJ

SWARN BACHAT YOJNA

To relieve from the ever increasing Gold rates...We have formulated a SYSTEMATIC SAVING PLAN... which is called "Swarn Bachat Yojna"

All you have to do is

INVEST-

RS 2500/- (OR MORE IN THE DENOMENATIONS OF RS 2500/-) per month for 15 MONTHS

BENEFITS you get-

(1) ONE BONUS INSTALLMENT IS PAID BY US, i.e. YOU GET JEWELLERY FOR 15 + 1 INSTALLMENTS

(2) EVERY MONTH WHEN YOU PAY INSTALLMENT, MONEY PAID BY YOU IS CONVERTED INTO EQUAL GRAMMAGE OF 22 KARAT GOLD WEIGHT AT PREVALENT RATE. SO NO WORRIES OF INCREASING GOLD RATES.

For example taking current rate of 22K gold @ 2700/- per gram, if you invest Rs 5000/- each month, you will accumulate approx 28 grams of 22K gold in your account + Rs 5000/- extra from our side that can be used to pay making/vat charges or to buy more gold.This amount of gold may increase or decrease with the price changes every month.

TERMS AND CONDITIONS:-

• ·         SCHEME IS FOR 15 MONTHS. DECIDED AMOUNT IS TO BE DEPOSITED BY 10^TH OF EVERY MONTH
• ·         AFTER COMPLETION OF THE TENURE YOU CAN TAKE GOLD/DIAMOND  JEWELLERY OF YOUR CHOICE. NO GOLD COINS OR PURE GOLD/SILVER IS ALLOWED.
• ·         EVERY MONTH THE AMOUNT PAID BY YOU IS CONVERTED INTO EQUAL GRAMMAGE OF 22 KARAT GOLD AT THE PREVALENT RATE ON THAT DAY. AND AFTER COMPLETION OF THE TENURE, YOU CAN TAKE JEWELLERY OF THE EQUAL AMOUNT OF GOLD CREDITED IN YOUR ACCOUNT.
• ·         IF THERE IS ANY DEFAULT IN THE INSTALLMENT PAYMENT, NO BONUS INSTALLMENT IS PROVIDED. BUT YOU CAN TAKE THE JEWELLERY OF YOUR CHOICE FOR THE AMOUNT OF GOLD CREDITED IN YOUR ACCOUNT.
• ·         NO CASH IMBURSEMENT IS ALLOWED.
• ·         MAKING/POLISH CHARGES , VAT EXTRA

THIS IS THE REAL INVESTMENT WITH SAVINGS.........!

Sutrela Kundan Bangles

Sutrela Kundan Bangles

India is the master of handmade jewellery. Artisans here put their souls into the piece they make.

Here we have different kinds of craftsmanship such as Jadaau Jewellery, Bengali Jewellery, Rajasthani Jewellery, Meenakari Jewellery, Garhwali Jewellery, Temple Jewellery etc., etc., etc…….

Topping all is Kundan Gold Jewellery from Rajasthan.

It’s said that the artisan pours his blood through his sweat while making a piece of impeccable Kundan art.

One of the magnificent thing being made in Rajasthani Kundan artwork are SUTRELA BANGLES, studded with polki diamonds, having intrinsic meenakari with head faces of elephant or peacock or lion.

Meenakari is just magnificent in these kind of bangles.

The main uniqueness of these bangles lies in its flexibility!!!

Yes “flexibility” you can twist it just like a dragon!!!

Just watch the following link and watch yourself.

Indeed this is a very heavy piece of jewellery to be able to worn on parties only.

The weight of one pair may vary from 150 gms to 200 gms of gold.

Manufacturing one pair of these bangles doesn’t take days or weeks but months!

But its really a product of adornment.

It’s really an excellent piece of art ever invented.

Regards

NJ

Customer is the King

Customer is King...

In today's material world, customer is the king indeed! But some customers take this far enough & take improper advantage of this.

A store owner must be patient enough to swallow the unreasonable demands of a customer. Because he may go out and try demolishing your goodwill to 10 other people.

Its an old saying of business in general that "the customer is always right". The point being that, in the long term interests of your jewellery store it doesn't pay to pick a fight with a customer.

You may win the battle, but end up losing the war.

Its also important to understand that some customers may be more right than others & some deserve better than good.

In this regard just be extra cautious while dealing with a notorious customer, but never get into unreasonabe arguement, subtle ignoring is one solution to this.

But do take good care of your frequent/loyal/good customers. Remember them by name, attend them personally, get into chit-chat, give them some extra discount/gifts, socialize more with them.

After all they are the foundation from where you can grow more further.

Read the following lines by Dale Carnegie-"....the best way to have someone take an interest in you, is by taking a genuine interest in them. Show them what you can do for them & they will reciprocate in kind....".

Regards

NJ

Valentines Day

Jewellery Sales Sparkle on Valentine’s Day

A man romances with a women, but, a women romances with jewellery....

Though a relatively new social occasion in the country, Valentine’s Day has now established itself as a major jewellery sales driver in India.
Today,Valentine’s Day is clearly an important date in the Indian social calendar and more importantly, is a special jewellery buying day as well

V-Day Lures Grey Population too!
There were many buyers in their mid-forties and we even had many 70-year- olds walking into our store. This shows that Valentine’s Day is a great sales driver across all age groups.
Valentine’s Day has definitely arrived in India and the jewellery retail industry is now taking serious note.

We at National Jewels are running a special Valentines Day week from
7th Feb,2012 to 14th Feb,2012.
Wherein we are providing upto 10% off on our diamonds & 20% off on Making charges of our plain gold jewellery!

There is a good range to choose from our special Valentines day collection!
So hurry....
We have a 'fall' in prizes while you 'fall' in love!

Regards
NJ