GST exemption on warehoused gold a major relief to jewellery exporters

Banks and jewellery exporters have a reason to smile after the GST Council did some tweaking during its meeting on Saturday.  The council proposed that supply of warehouse goods to any person before clearance for home consumption will not be treated as supply and hence no  GST is required to be paid on such transactions.  The move will help banks, which used to pay&nb…