Industry Revels in New Budget Announcements-Union Budget 2021

  • - 13 March 2021 4:01 PM

Customs duty on gold and silver decreased to 7.5 per cent from 12.5 per cent with an addition of 2.5 per cent AIDC (Agri Infra & Development Cess) – in effect reduced to 10 per cent -- applauded unanimously by the whole G & J industry

Reduction In Customs Duty On Gold And Silver Brings Huge Relief to G & J Industry

  • - 01 February 2021 7:25 PM

Customs duty on gold and silver decreased to 7.5% from 12.5% with an addition of 2.5% AIDC (Agri Infra & Development Cess) – in effect reduced to 10% -- applauded unanimously by the whole G & J industry

What Jewellers Across India Expect From Union Budget 2021? Reduce Import Duty On Gold, Simplify Import Process, Nurture MSME Gold And Jewellery Traders

  • - 26 January 2021 5:35 PM

India’s economic slowdown which began before the lockdown of 2020, eventually brought the whole economy on its knees. Therefore this budget will have to be truly ground breaking in order to resurrect the Indian economy. Here’s what industry personnel expect of the Union Budget of 2021
 

Malabar Group Urges Govt To Reduce Tax Rate

  • - 14 January 2021 11:25 AM

Malabar Group chairman MP Ahammed said the government should create an enabling environment for the jewellery retail trade to introduce MRP pricing in the segment without any pricing break-up in terms of GST or other taxes

How Jadau Manufacturers Are Meeting Demand Amidst Reduced Staff & Increasing Covid19 Cases In Jaipur

  • - 04 December 2020 10:12 AM

Jadau jewellery is not easy to manufacture – from specialist karigars to expensive uncut diamonds and top of the line precious stones and comparatively large amount of gold – it needs all of it apart from time and expertise; streamlining all these factors of production during the pandemic is no mean feat. Manufacturers share their experience

Govt. Increases Duty Drawback on Gold by 16%; But Reduces Silver Duty Drawback by 5%

  • - 20 July 2020 2:28 PM

The duty drawback rate on gold has been increased while that on silver jewellery has been reduced

Govt. Increases Duty Drawback on Gold by 16%; But Reduces Silver Duty Drawback by 5%

  • - 16 July 2020 12:17 PM

The previous revision in the gold duty drawback rate was done on 28th January, 2020, following which the gold price has risen steadily. The GJEPC represented the matter to the Department of Revenue and urged it to revise the drawback rates

As Recessionary Pressures Mount, Jewellers Melt Inventory To Meet Business Expenses

  • - 06 July 2020 3:51 PM

Jewellers have begun melting newer ornaments to reduce inventory 

Gold trade Hallmarking will boost consumer confidence: MP Ahammed

  • - 06 December 2019 10:52 AM

Placing greater onus on transparency and accountability, the initiative will greatly reduce instances of consumer victimisation and cheating at the hands of fraudulent players who indulge in malpractices

FM Nirmala Sitharaman refuses to reduce gold import duty

  • - 17 August 2019 10:28 AM

She ruled out any possibility of reduction in import duty citing that the country does not produce gold within its borders

Not a very Sparkling Diwali for Jewellers owing to Stunted Cash Flow & Low Demand

  • - 13 October 2017 11:17 AM

Among other reasons, a reduced demand and decreased cash flow will witness at least 30% decline in jewellery sales as against last year.

IIJS Signature & IGJME reduced to a 3-day event

  • - 08 December 2016 5:35 PM

Gems and jewellery industry has been worst hit due to the demonetization

 

A Few Golden Steps Towards a Gold Census: MP Ahammed

  • - 06 December 2016 1:09 PM

The demonetization move aims to reduce India’s dependence on Gold imports, which has a direct bearing on current account deficit and rupee value.

GJF concerned over imposition of compulsory PAN Card application on jewellery sales over Rs. 1 lakh

  • - 16 March 2015 5:37 PM

GJF has requested government to remove Pan Card requirement in jewellery sector and reduce Import Duties on gold, silver and jewellery

PC Jeweller to directly importing precious metals

  • - 15 January 2015 6:15 PM

The new development would help the company to reduce its cost to buy precious metals

Indian gem and jewellery industry expect reduced gold import duty

  • - 26 December 2014 2:13 PM

Say the fall in gold imports to 13 percent could prompt the government to take measures

GJF's Bachhraj Bamalwa's view on the budget

  • - 28 February 2013 2:14 PM

Nothing substantial in the Union Budget 2013-14 for gem and jewellery industry, says Bachhraj Bamalwa, Chairman, GJF. But he expects the import duty to be reduced in the coming days.

Shree Ganesh Jewellery House ltd to cut down overseas exposure

  • - 16 November 2012 3:35 PM

Owing to the slowdown in demand and the changes in the markets abroad, Shree Ganesh Jewellery House will reduce its overseas exposure.

Customs Duty on Gold Finding Reduced to Four Per cent

  • - 25 September 2012 12:29 PM

The Central Board of Excise and Customs (CBEC) reduces the import duty on gold bars and gold coins having gold content of 99.5 per cent and above.

Amore Jewels expands in New Delhi

  • - 07 February 2012 6:33 PM

The new office in Karol Bagh is targeted to reduce gap between customers and to gain competitive advantage.

Diamond Sector Starting the New Year on an Optimistic Note

  • - 19 February 2010 5:27 PM

VIP Sales Promotion in USA: Accumulated Inventories Reduced: Polished Diamond Eximports Up : Jewellery Sluggish

Russia to lower import duty on rough diamond from 1st Jan 2010

  • - 12 December 2009 3:00 PM

Duty to reduce from 20 percent to 15 percent

Jewellers consider reducing gold caratage in jewellery to combat high gold prices

  • - 13 November 2009 12:19 PM

The gold caratage is being reduced from 18 carats to 14 carats

Length of Luxury & Premiere show to be reduced

  • - 05 March 2009 3:36 PM

The event has been re-scheduled to three days

Japan’s gem and jewellery imports down in November 2008

  • - 02 January 2009 7:27 PM

Imports from India reduced by 49.4%

Dharmanandan Diamonds to launch online portal

  • - 11 September 2008 10:45 AM

Intends to reduce time in diamond buying

Dubai gold shopping reduces by 14%

  • - 14 January 2008 12:00 AM

Shoppers affected by risein gold prices, which touched $898.30 an ounce.

India to reduce polished import tariff : Israel

  • - 07 December 2006 12:00 AM

Change expected in early 2007; Indian govt. yet to confirm

India reduces value addition norms in jewellery

  • - 23 September 2006 12:00 AM

Move prompted by rising bullion prices

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