ANNOUNCEMENT 26 Sep 2018
The import duty on diamonds and other gemstones has been increased by 2.5%.
NUMBER OF INTERVENTIONS
Notification No. 68 /2018-Customs
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.