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A landmark budget for the gem & jewellery industry The Finance Minister Nirmala Sitharaman has announced a slew of measures to boost Gem & Jewellery exports by cutting import duty on precious metals such as gold, silver and platinum By: Diamond World News Service | | Reference: 25393 (L-R) Mansukh Kothari, Convener, Events; Ashok Gajera, Reggional Chairman, Western Region, GJEPC; Colin Shah, Chairman; Vipul Shah, Vice Chairman; Sabyasachi Ray, ED, GJEPC GJEPC welcomes Hon’ble Finance Minister Nirmala Sitharaman’s visionary budget; reduction on customs duty on raw materials like gold, silver and platinum to boost jewellery exports. The Finance Minister Nirmala Sitharaman has announced a slew of measures to boost Gem & Jewellery exports by cutting import duty on precious ....
Import duty cut on precious metals a major relief February 02, 2021 ‘Rationalised duty structure and simplified processes are fundamental to an organised trading market’ The government has reduced the import duty on gold and silver to 7.5 per cent from 12.5 per cent but added an agriculture infrastructure and development cess of 2.5 per cent, taking the overall duty to 10.75 per cent, including social welfare of 0.75 per cent. Somasundaram PR, Managing Director, India, World Gold Council, said it is a much-needed incentive for the organised and compliant players in the industry. A rationalised duty structure and simplified processes are fundamental to an organised trading market. ....
A landmark budget for gem & jewellery industry, says GJEPC By IANS | Published on Mon, Feb 1 2021 20:21 IST | 0 Views Jewellery.. Image Source: IANS News Jaipur, Feb 1 : The Gem Jewellery Export Promotion Council (GJEPC) on Monday welcomed Union Finance Minister Nirmala Sitharaman s visionary budget over reduction of customs duty on raw materials such as gold, silver and platinum to boost jewellery exports. The import duty on gold and silver has been reduced from 12.5 per cent to 7.5 per cent while import duty on platinum, pallidum etc has been reduced from 12.5 per cent to 10 per cent. The import duty on silver dore bar has been reduced from 11 per cent to 6.1 per cent. ....