Happy one year to G.S.T- a law that reshaped the entire tax system!

Last year around this time, the nation welcomed one of the most revolutionising tax reform that set out to change the structure of the economy of the nation- The G.S.T
With the implementation of G.S.T almost every industry went through significant tranformations including the bullion market. To understand where the bullion industry stands today, a year after G.S.T was implemented, Mr. Sachin Kothari, Director, Augmont would like to share his view-
“The initial phase of GST was chaotic as there was a gap in understanding about the tax reform, however over the time the move has proven to be a positive for the industry. This move has structured the industry to a great extent and has also helped us enhance our customer relationship as there been a greater amount of transparency bought into the system.” 
About Augmont: 
Augmont is an integrated precious metals management company with operations in trading of gold and silver coin & bar through its online platform, gold refining and manufacturing of tamper proof packaged jewelry. Augmont has a turnover of over 1 Billion USD which makes it one of the largest network of bullion dealers across India providing wholesale and retail level bullion delivery in the spot markets through its online platform with 3500+ registered clients. The said platform is India’s first fully electronic over-the-counter (OTC) delivery based bullion-trading system and arguably the most successful. Currently, Augmont has one of the largest gold / silver refineries in Uttarakhand, India in terms of production capacity.
 
This world class Augmont refinery has the technical capability to refine and fabricate gold and silver with 999 and 995 fineness. Augmont refinery has all the latest and efficient equipments / machines required for giving out best quality products in minimum process time. It has well experienced staff for carrying out the refining process. Augmont specializes in refining for the bullion and jewelry industry. Augmont’s gold / silver coins and bars are amongst the best in the market in terms of purity, weight and finishing which are at par with global standards. Augmont refinery has a refining capacity of 140 Tonnes per annum for both gold and silver.
 
We specialize in refining for the jewellery industry, processing everything from scrap to polishing sweeps. Our special combination of technology, prompt service and several settlement options have made many of our customers refer to us as their “Refiner of Choice”.
 
Our refinery is working 24 hours a day to serve our clients with proper, accurate and impeccable implementation of selected methods and stringent control processes to reach a purity of almost 100% precious metal from the raw material.
 
Augmont is one of the leading jewellery manufacturers with a massive production
unit in India. With zest and energy of a young team, the experience of its founders
and trust in its brand, Augmont jewellery commands a unique positioning in the
market.
 
It supplies 18k, 22k, 24k plain and studded jewellery with special designs, export
quality finish and perfect purity and packaging to its over 3 lakh touch points. It is
sold with innovative payment schemes making it easy and possible for customers to make low value purchases. Augmont jewellery is expanding further to various
markets.
 
Sachin Kothari, Director, as a Master in the field of financial education, he looks
after the overall management at execution level helping the Organisation towards
growth and rigorous improvisation.

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