GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

Equalisation levy is not applicable on e-trade of rough diamonds, says India’s FM

28 august 2020
At a representation meeting held on 27 August with The Gems and Jewellery Export Promotion Council of India (GJEPC), Smt. Nirmala Sitharaman, Hon’ble Minister of Finance, Govt of India has clarified that the e-trade of rough diamonds does not attract 2 percent equalisation levy. She has assured that an official clarification from the government will be issued soon, says a press release from GJEPC. 
Equalisation levy was introduced and amended in the Finance Act 2020.  A two percent equalisation levy has been effective from April 1, 2020 in the fiscal year and is applicable on the consideration received/receivable by an e-commerce operator.
During the meeting, GJEPC representation urged the Hon'ble Minister to issue appropriate amendment/ clarification, to ensure that the diamond sector is not burdened with the equalisation levy, even where rough diamonds are procured through auctions over a digital platform.

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