WebJul 14, 2024 · Recent update as to changes in GST rate on Cut and Polished diamonds recommended from 0.25 to 1.5%. need re confirmation on the same WebJun 30, 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 input tax credit accumulation being faced on account of inverted …
HSN Code for Cut And Polished Diamond in India - Export Genius
Web8 hours ago · The Mumbai bench of Customs Excise & Service Tax Appellate Tribunal (CESTAT) has held that adjudication of a Show Cause Notice (SCN) demanding service tax issued on the same set of facts without adjudicating first one is not tenable.. M/S Shairu Gems Diamonds Pvt. Ltd., the appellants are engaged in manufacturing and selling cut … WebJul 9, 2024 · According to the DGFT, the lab-grown diamonds have been assigned HS code of 7101, while the natural diamond has the HS code of 7102. Till now the trade for … chris o\u0027keefe toyota
Jewellery exporters seek refund of ₹600-cr accumulated input tax …
WebJun 29, 2024 · Gem and Jewellery Export Promotion Council welcomes GST rate rationalisation for cut and polished diamonds It is estimated that over Rs 600 crores of ITC accumulation is there as on date... WebJul 27, 2024 · (c) Cut and polished diamonds; precious and semi-precious stones; or plain and studded jewellery of gold and other precious metals, falling under Chapter 71 in the First Schedule to the Customs Tariff Act, 1975 (51of 1975); (d) Printing of books (including Braille books), journals and periodicals; WebSep 21, 2024 · Photo: Shutterstock. The Goods and Services Tax (GST) rate cut from five per cent to 1.5 per cent in job work for diamonds is expected to provide much-needed impetus to the industry. Blocked … geographer resume