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Any color diamond is a great investment

Bruno Scarselli belongs to the 3rd generation of the Scarselli family, which has for the last half-century been producing and selling some of the world’s highest quality yellow, blue and pink diamonds available on the market. Bruno heads the company...

20 november 2017

It’s crucial everybody feels confident that their suppliers use the System of Warranties - Stephane Fischler

The System of Warranties (SoW) in the diamond industry dates back to 2002, when the World Diamond Council (WDC) in team with the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association...

13 november 2017

IIDGR’s proprietary technology gives polished diamonds unique identity

The International Institute of Diamond Grading & Research (IIDGR), a unit of the global diamond giant, De Beers, grades natural stones and is also using its proprietary inscription technology to inscribe a unique identification on tables of each...

07 november 2017

In future, only those who offer innovative designs will survive

A science graduate from Madras University, Srinivasan's one-man venture with just 10 employees launched in 1984 has now grown into the present Emerald Group, in about 3 plus decades. The Group from Southern India is one of the largest jewellery manufacturing...

30 october 2017

Conditions are still very difficult - Ernie Blom

Ernie Blom, the President of the World Federation of Diamond Bourses (WFDB) for the third term, has served on a range of industry bodies as an executive as well as chairman for many years, including Chairman, Diamond Dealers Club of South Africa...

23 october 2017

GST Council revises GST rates for import of rough diamonds

13 september 2017
The Government of India's GST Council has decided to harmonise rates for import of rough diamonds across all HS Codes, thus reducing the GST on the industrial and unsorted diamonds category from 3% to 0.25%.This change was announced after the 21st meeting of the GST Council held on Sept 9, 2017.
Praveenshankar Pandya, Chairman GJEPC, said, “The harmonised rates of GST (for rough diamonds) was very essential for the ease of doing business and will support the diamond trade to import the goods in respective category without any fear of imposing of higher rate of GST by the department.”
The Indian industry is pressing for a couple of more demands from the government and GST Council. Among these is the abolishment of GST for business-to-business (B2B) transactions as well as removal of the 5% GST on labour.

Aruna Gaitonde, Editor-in-Chief of Asian Bureau, Rough & Polished

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