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Indian E-Tax ‘Doesn’t Apply to Rough Sales’
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Rough trading does not incur India’s new e-commerce tax, the country’s Gem and Jewellery Export Promotion Council (GJEPC) confirmed after meeting with finance minister Nirmala Sitharaman.India introduced the equalization levy...
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Financial-Legal
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Aug 27, 2020
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Rapaport News
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GJEPC: Coronavirus May Lead to Payment Delays
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India’s diamond industry has asked banks and the government for help with its credit difficulties, as the coronavirus crisis has left clients in China and Hong Kong unable to pay bills.The Gem and...
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Rough Markets
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Feb 12, 2020
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Joshua Freedman
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GJEPC Mulls Separate Lab-Grown Membership
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India’s Gem and Jewellery Export Promotion Council (GJEPC) isconsidering a new membership category for lab-grown-diamond traders in afurther attempt to keep better tabs on the trade. The organization requires companies to choose a productcategory — known as a “panel”...
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Polished Markets
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Aug 29, 2019
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Rapaport News
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Indian Tax Office Lightens Exporters’ Load
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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...
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Polished Markets
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Jul 25, 2019
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Rapaport News
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DPA Targets New Indian Parents
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The Diamond Producers Association (DPA) will launch acampaign in India encouraging new parents to celebrate the birth of a child by purchasing a diamond. Based on the DPA’s consumer research, 39% of Indianconsumers consider the birth of a child to be an auspicious...
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Retail
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May 05, 2019
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Rapaport News
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India Trade Looks to Ease Banks’ Concerns
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India’s diamond industry is working to produceguidelines for banks to reduce their risks when lending to the trade. The nation’s Gem & Jewellery Export Promotion Council (GJEPC) has beencollaborating with the government and lenders...
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Financial-Legal
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May 01, 2018
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Joshua Freedman
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India Sees Rise in Polished Exports
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India’s polished-diamond exports grew 8% in March, accordingto data the nation’s Gem and Jewellery Export Promotion Council (GJEPC)released Friday. Shipments increased to $2.03 billion year on year for themonth, with the volume of exports falling...
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Mining
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Apr 30, 2018
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Rapaport News
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Investigation into $1.8B Jewelry Fraud Intensifies
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Indian authorities have reportedly arrested five senior executivesat Nirav Modi Group and Gitanjali Gems as investigations continue into amassive fraud case involving the two companies.Punjab National Bank (PNB) has alleged the...
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Financial-Legal
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Feb 21, 2018
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Joshua Freedman
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GJEPC Unveils 5-Year Plan to Boost Indian Exports
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India’s jewelry trade has outlined a plan to increaseexports by about 40% over the next five years, Praveenshankar Pandya, chairmanof the country’s Gem and Jewellery Export Promotion Council (GJEPC), saidFriday. The council has...
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Polished Markets
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Jul 30, 2017
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Avi Krawitz
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New Diamond Panel Tackles Undisclosed Synthetics
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A number of organizations have formed a committee toprotect natural diamonds against the threat of synthetic ones, Praveenshankar Pandya,chairman of India’s Gem and Jewellery Export Promotion Council (GJEPC), saidFriday. “Our goal is to create a separate footprint for...
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Polished Markets
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Jul 30, 2017
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Avi Krawitz
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India Approves Release of Seized Marange Diamonds
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India formally approved the release of Marange diamonds that were seized by Indian customs officials after goods arrived in the country from Dubai.''Formally, it is done by the government and the parcel will be released,'' Rajiv Jain,...
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Rough Markets
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Aug 23, 2011
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Dilipp S Nag
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