GST rate cut in diamond job work to free up Rs 1,500 cr working capital

The Goods and Services Tax (GST) rate cut from five per cent to 1.5 per cent in job work for  diamonds  is expected to provide much-needed impetus to the industry. Blocked working capital worth Rs 1,500 crore in almost defunct job-work diamond polishing units is expected to be released even as diamantaires are likely to issue fresh orders to these units, following  GST  relief.…