GST Relief in Natural Diamond Import to Boost Industry

The Indian diamond industry, especially the world capital of diamond cutting and polishing in Surat, is all set to get a major boost with the exemption of imports of natural cut and polished diamonds up to 25 cents under the Diamond Imprest Authorisation Scheme (DIAS) by the 56th GST Council meeting.

- Melvyn Thomas

The Gem & Jewellery Export Promotion Council (GJEPC) has welcomed the GST reforms announced at the 56th GST Council meeting. According to the GJEPC, for the diamonds and jewellery sector, the reforms bring significant relief. The Council's decision to exempt imports of natural