WebApr 10, 2024 · With regards cut & polished diamonds, the GST has been increased from 0.25% to 1.5% (effective 18th July 2024), which the diamond sector has welcomed as it resolves their issue of ITC … WebJun 28, 2024 · The Council will also discuss rate hike suggestions from the fitment committee for items ranging from cut and polished diamonds (1.5 per cent from 0.25 per cent), tetra packs (18 per cent from 12 per cent) and rate cut for ostomy appliances including waterproof pouch for collecting waste from the body (nil from 12 per cent).
India’s Import Tariff Rates at HS codes - 8-digit level …
WebFeb 1, 2024 · Import duty on cut and polished diamonds and gemstones will be reduced to 5 percent while on sawn diamond to nil in order to boost the sector, Finance Minister … WebJan 20, 2024 · The sharp cut in the rate of GST (Goods and Services Tax) on polished diamond has brought much cheer to processors and jewellery exporters. Around 94 per cent of the diamonds processed in the country would attract 0.25 per cent GST effective Friday, down from three per cent earlier, following the GST Council’s decision in this … indiana vs michigan womens basketball score
gst: Government hikes GST for cut & polished diamonds from …
WebJul 18, 2024 · Heeding the long-standing demand of the diamond segment, the GST Council, at its 47th meeting, took the favourable decision of increasing the GST rate on … WebJun 30, 2024 · In 2024, the GST rate on cut and polished diamonds was reduced from 3 per cent to 0.25 per cent, whereas the gem and jewellery industry continued to incur … WebJul 5, 2024 · GST Rate: 1. Rough and un-worked diamonds, precious and semi-precious stones: ... Job work in relation to cut and polished Diamonds, plain or studded jewellery of gold, silver, etc: 9988: 5%: 4. Other professional, technical and business services (residuary clause) 9983: 18%: II. Taxability of Different Transactions. indiana vs michigan state football score