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India GST
India Reduces Industry’s Tax Burden
The Indian government has lowered the rate of goods and services tax(GST) for certain diamond work in a move that will help buoy the struggling sector, the nation’s Gem & Jewellery Export Promotion...
Polished Markets Sep 23, 2019 Rapaport News
India Tax
Indian Tax Office Lightens Exporters’ Load
Diamond exporters will be allowed to ship goods out of India for trade showsor consignment without paying goods and services (GST) tax, the government has announced.The revision rules that these items don’t constitute...
Polished Markets Jul 25, 2019 Rapaport News
GJEPC Predicts Strong Year for Jewelry 150
GJEPC Predicts Strong Year for Jewelry
India’s gem and jewelry exports will grow by adouble-digit percentage this year, Pramod Agrawal, the newly elected chairman ofthe Gem & Jewellery Export Promotion Council (GJEPC), predicted this week. The high...
Polished Markets Feb 13, 2018 David Brough
Titan Sees Third-Quarter Growth 150
Titan Sees Third-Quarter Growth
Titan Company’s sales grew in the fiscal third quarter, buoyed bya healthy Diwali season and recent government regulations that favored thejewelry business.Revenue rose 7% year on year to $670.4 million (INR 42.96 billion),while profit...
Retail Feb 06, 2018 Rapaport News
GJEPC Appoints New Chairman 2 150
GJEPC Appoints New Chairman
The Gem & Jewellery Export Promotion Council (GJEPC) haselected Pramod Kumar Agarwal as its chairman, and Colin Shah as vice chairmanfor the 2018 to 2020 period, the Indian trade organization announced Friday. Agarwal...
Polished Markets Jan 14, 2018 Rapaport News
Diamond Polisher Surat India 150
GJEPC: Raid Shows Problem with Tax Policy
India’s Gem & Jewellery Export Promotion Council (GJEPC)has called for clearer tax rules, an official said, after authorities raided diamond couriers whowere transporting finished goods back to their owners in Mumbai on Saturday.The preventive...
Polished Markets Jan 09, 2018 Leah Meirovich
India Jewels
India Eases Selling Procedures for Jewelers
Jewelers in India have welcomed an amendment to the country’s laws that exempts them from government scrutiny over money laundering. The central government notified dealers in precious metals, precious stones and other high-value goods,...
Retail Oct 08, 2017 Rapaport News
Indian gold jewelry
India’s Titan Upbeat on Jewelry Sales
Titan Company reported strong jewelry sales in the firstfiscal quarter and said it expects to benefit from India’s new tax system.The jewelry division saw 50% year-on-year growth during theperiod running up to the Akshaya Tritiya...
Retail Jul 05, 2017 Rapaport News
Gold Jewelry Trade - IIJS
India’s New GST: What You Need to Know
India’s much-anticipated goods and services tax (GST)took effect on July 1, drawing both praise and criticism from the diamond andjewelry industry. The tax — which Prime Minister Narendra Modi dubbed the “goodand simple...
Financial-Legal Jul 04, 2017 Joshua Freedman
India cutting
Surat Traders Strike over New Tax
Diamond traders in India observed a one-day shutdown onSaturday in opposition to a new tax on the industry, according to local reports.Several thousands of traders and brokers joined the strikein Surat, a diamond-manufacturing hub in the state of Gujarat, following a callby...
Financial-Legal Jun 18, 2017 Rapaport News
Jewelry Sales India
India Relaxes Tax on Jewelry-Making
India’s government has reduced the tax rate on diamond andjewelry manufacturing to 5% following an earlier announcement that it would chargeindustry members an 18% levy, the Gem & Jewellery Export Promotion Council(GJEPC) said Monday.The tax applies...
Financial-Legal Jun 13, 2017 Rapaport News
Arun Jaitley GST
India Trade Body Attacks Tax on Rough
India’s Gem & Jewellery Export Promotion Council (GJEPC)has criticized the government’s decision to tax rough diamonds, claiming itwill damage the nation’s manufacturing sector.The government will introduce a 0.25% levy on the category aspart...
Retail Jun 04, 2017 Rapaport News
India gold jewelry
India Boosts Global Gold Jewelry Demand
Global gold-jewelry demand increased in the first quarter, driven by a reawakening in India, the World Gold Council (WGC) said in its quarterly report ongold trends.Overall demand for gold jewelry advanced 5% to $18.85 billion, and by volume...
Retail May 08, 2017 Rapaport News
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