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Gem and jewellery News

10 Jan 2023

Union Budget 2023: Gem, jewellery industry seeks abolition on raw material

Gem and jewellery exporters on Sunday urged the government to announce support measures like the abolition of import duty on raw material for lab-grown diamonds. Seeking a kind of "diamond package" in the forthcoming Budget, the industry said in light of the high inflation and economic crisis in the US and Europe. These lab-grown or man-made diamonds (LGDs) are grown inside a lab using cutting-edge technologies under specific parameters.

19 Oct 2016

Jewellery industry seeks 1.25% GST rate for local transactions

The gem and jewellery industry has sought GST of 1.25 percent from the government for the sector besides zero duty on rough diamond imports, cut and polished diamonds exports and coloured gemstones.

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