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India Extends Deadline for Duty-Free Reimports
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The Indian government has granted diamond companies extra time to ship polished goods back to the country without incurring customs duty.At present, reimports are subject to the 7.5% levy once the diamonds have...
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Polished Markets
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Jul 12, 2020
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Rapaport News
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India Trade Calls for Lower Import Tax
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India’s diamond sector has asked the government to reduce import duties for polished, arguing that a lower rate would boost the country’s position as a trading hub.The Gem & Jewellery Export Promotion Council (GJEPC)...
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Polished Markets
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Jul 08, 2020
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Rapaport News
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Israel Extends Tax-Free Inspection Period
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Israeli authorities have lengthened the amount of time dealers can spendinspecting polished diamonds without paying a 0.1% import duty. Diamond controller Danny Tal, Israel’s regulator for theindustry, will now allow companies up to 30 days...
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Financial-Legal
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Apr 25, 2018
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Rapaport News
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GJEPC Predicts Strong Year for Jewelry
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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...
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Polished Markets
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Feb 13, 2018
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David Brough
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India to Raise Polished Diamond Import Duty, Report Says
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The government of India plans to raise the import duty on cut and polished diamonds to 5 percent from the existing 2 percent tax, according to Business Standard.The duty hike, which is expected to be announced this week, is being implemented...
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Polished Markets
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Oct 27, 2013
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Deena Taylor
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RBI Panel Suggests More Curbs on Gold Imports
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A panel created by the Reserve Bank of India (RBI) to study issues related to gold has recommended measures such as introducing new gold-backed financial products, designing inflation indexed bonds and prohibiting bank finance for purchases...
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Financial-Legal
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Feb 07, 2013
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Dilipp S Nag
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Higher Import Duty to Increase Gold Smuggling in India
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, The increased gold import duty imposed by India's government may lead to more smuggling activity, but the tax is unlikely to have much of an impact on consumer demand in the world's largest gold market, industry observers said....
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Financial-Legal
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Jan 22, 2013
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Dilipp S Nag
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India Raises Gold Import Duty to 6%
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India increased the import duty on gold to 6 percent from 4 percent effective immediately to discourage the demand for gold, which is one of the key contributors to the country's large current account deficit. The government also...
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Financial-Legal
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Jan 21, 2013
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Dilipp S Nag
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