| Address: | Somajiguda, Hyderabad, Telangana, 500036 |
| Website: | www.joyalukkas.in |
Dear sir/readers,
I would like to share the my worst jewellery shop experience with you all, i recently bought a very expensive (3.9lacs) jewellery from joyalukkas, at the time of purchase, staff has explained about the exchange policies that within 7 days we can exchange it to "91.6 gold" or at the lose of 3% we can get the money as cash. Due to some reason, we won't to exchange the jewellery, initial they told us we can exchange it to ornament or lose of 3%. We are ready to exchange it on the lose of 3%.
How they calculate there return policy for lose of 3%=
1. Exclude making charges
2. Exclude stone wastage
3. Exclude gst which is paid earlier
4. Exclude 3% from the gold left
They return only 97% of gold weight that to 22 carat not 24 because you paid for 22 carat only.
Let's do the math, assume on the tag gross weight is 115 grams, 15 grams is stone wastage and 25% are making charges.
When they sell they ornament:
1. Add stone cost
2. Making charges
3. Gst
4. Finally the actually gold cost exist in the ornament.
On the name of return policies we get only 97% of the gold exist in the ornament. If you consider for over all it's a lose of 25% on bill amount.
I[censored] r from a middle class family and people like us with a minimum wages, it takes to years to gather the money & imagine within 3 days you will be literally losing 25% of all your work hard money will be taken by joyalukkas on the name of "return policies".
From tax perspective, the gst we paid will be paid to govt through shop and the they again sell the same item to another costumer gst paid by them will not be paid to govt as in record it is consider as they paid and gst paid from the new costumer will be illegal savings (Our loss was 60k as making charges, stone cost was ~40k, gst was ~10k, 3% of gold which is 2.88 grams of gold in rs.9k). We lost exactly 30% (Rs.119, 000) & the same amount will be ilegally earned.
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