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In a world where transparency is more and more the standard, our business must address the lab grading issue willingly

Jeweler-Designer Arnaud Flambeau started his career in the jewelry business in 1993 at European Gold Company CLAL as Key Account Manager for the Jewelry Division, where he was in charge of international brands like Cartier or VCA and their subcontractors...

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Vallabhbhai Shamjibhai Patel tells about the ongoing construction of the Surat Diamond Bourse

The under-construction Surat Diamond Bourse (SDB) is India's second diamond trading hub based at Surat, Gujarat, spread across 35.54 acres with more than 4,000 offices for national & international traders. On the onset, the project which...

18 june 2018

The strategy of regulating the Russian jewellery industry

At the General Meeting of the Russian Jewellers Guild Association held in April, two principally important documents were adopted: The Strategy of Regulating the Jewellery Industry of Russia and The Charter of a Good Faith Taxpayer. Besides, the issues...

13 june 2018

Our first priority is to better understand artisanal and small-scale mining - Elodie Daguzan

The Diamond Development Initiative (DDI), the organization dealing with the traditional diamond mining, recently announced the appointment of Élodie Daguzan as its first Goodwill Ambassador. Ms. Daguzan, who currently works as head of communication...

04 june 2018

Zimnisky on De Beers’ Lightbox: It’s a strategic, bold move that will benefit the entire natural diamond industry

De Beers shocked all and sundry end of May when it announced the launch of a new company called Lightbox Jewelry, which will market a new brand of laboratory-grown diamond jewellery in September. This effectively meant that the group had departed from...

01 june 2018

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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