A delegation representing the Jewellers Association, Jaipur met Shri Suresh Prabhu, Hon'ble Union Minister for Commerce & Industry during his visit to the Pink City yesterday and raised some points regarding the duties and taxes levied on the coloured gemstone segment of the trade. Shri Vijay Kedia, Co-convener, Coloured Gemstone Panel, GJEPC participated in the discussions.

The industry asked the minister for a reduction in import duty on cut and polished coloured gemstones from 7.5% to 2.5%, pointing out that there are certain coloured gemstones which are not cut and polished in India.

It also requested for a reduction in GST from 3% to 0.25% on cut and polished semi-precious stones.

Further, the delegation also suggested that reimport of gems and jewellery exported for exhibitions or on consignment basis should be exempted from IGST.

The Hon'ble Minister told the trade that these issues have already been taken up with the Finance Ministry and assured them that he will speak to the Hon'ble Union Finance Minister too about them.

Pic caption: Hon’ble Union Minister for Commerce & Industry, Shri Suresh Prabhu (2nd from left) seen with a delegation from Jewellers Association, Jaipur