ANNOUNCEMENT 26 Sep 2018

The import duty on diamonds and other gemstones has been increased by 2.5%.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 27 Sep 2018 | Removal date: open ended
Still in force

Import tariff

On 26 September 2018, the Indian Ministry of Finance through Notification No. 68/2018-Customs increased the import duty on gemstones and diamonds from 5% to 7.5%. The products covered under the Notification are cut and polished coloured gemstones, diamonds including lab grown diamonds-semiprocessed, non-industrial diamonds including lab-grown diamonds (other than rough diamonds).

The import duty on these products was last increased from 2.5% to 5% on 2 February 2018.

AFFECTED SECTORS