Jewellery stocks fall after import tax raise on gold

Mumbai: Shares of jewelers tumbled after finance minister Nirmala Sitharaman in the Union Budget announced its proposal to raise import tax on gold to 12.5% from 10%. Titan slid 3%, Tribhovandas Bhimji Zaveri 5%, PC Jeweller 4%, Thangamayil Jewellery Ltd fell 3%. “Today’s announced import duty hike on gold from 10% to 12.5% will negatively impact … Read more Jewellery stocks fall after import tax raise on gold

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

Import Tax On Some Textile Products Doubled To 20%

Import tax on some textile products has been doubled to 20 per cent, the government said in a statement on Tuesday, increasing duty on fabric-related commodities for the second time in a month. The move is expected to provide relief to the domestic textile industry, which has been hit by a rise in imports of … Read more Import Tax On Some Textile Products Doubled To 20%

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