Gems and jewellery sector seeks cut in gold import duty to 4 per cent

MUMBAI: On the onset of the Union Budget for 2019-20, the gems and jewellery sector has unanimously sought a reduction of gold import duty to 4 per cent to check to smuggle in a big way. In representation, the All India Gem and Jewellery Domestic Council (GJC) said the 10 per cent import duty on … Read more Gems and jewellery sector seeks cut in gold import duty to 4 per cent

Jewellery body urges govt to reduce import duty on cut & polished diamonds

The Gems & Jewellery Export Promotion Council (GJEPC) today said it has urged the government to reduce import duty on cut and polished diamonds announced recently. “We have urged the government to roll back import duty on cut & polished diamonds from 5 per cent to 2.5 per cent. We have also urged the government to review … Read more Jewellery body urges govt to reduce import duty on cut & polished diamonds

Economic Survey stokes fears of higher duty on gold jewellery

MUMBAI: The Economic Survey’s observation that the government bears an implicit subsidy of 6% on gold consumed by the middle class, has raised expectations among traders that tax paid to buy jewellery could rise to reduce this subsidy. However, most in the trade expect that the tax on jewellery would rise only when the government … Read more Economic Survey stokes fears of higher duty on gold jewellery

Dumping duty on Chinese Cloth import shall not make much difference for MSMEs; duties on apparels & garments would: Expert

The Union Textiles Minister Smriti Irani has said that the government is working on a policy to stem the flow of cheap cloth into India and is even considering imposing a “dumping duty” on cloth imported from China. “I cannot make any announcements about it here but I will move the policy in the Parliament. … Read more Dumping duty on Chinese Cloth import shall not make much difference for MSMEs; duties on apparels & garments would: Expert