Diamond & Jewellery Industry Gets Relief As Govt Eases GST Norms: GJEPC

New Delhi, Sep 6 (KNN) The Gem and Jewellery Export Promotion Council (GJEPC) on Friday welcomed the recent GST reforms, stating they will provide significant relief to the diamonds and jewellery industry.

Under the changes, imports of natural cut and polished diamonds up to 25 cents under the Diamond Imprest Authorisation Scheme (DIAS) have been exempted from the 18 percent Integrated GST, a move expected to ease working capital burdens for manufacturers and exporters engaged in small-diamond processing.

In a further boost, the GST on jewellery boxes has been reduced from 12 percent to 5 percent, lowering costs for retailers and exporters while making packaging and gifting more affordable for consumers. 

“These measures will stimulate domestic demand and provide a cushion to our export supply chains, which are under pressure due to global challenges,” GJEPC Chairman Kirit Bhansali said.

The Council added that the sector remains committed to ensuring cost benefits, including lower jewellery box prices, are passed on to consumers, strengthening trust and supporting long-term growth.

According to GJEPC, the reforms—combined with GST reductions in allied sectors such as handicrafts, leather goods, and packaging—will reduce operational costs, improve affordability, and enhance global competitiveness. 

This, it said, would reinforce India’s role as a hub for diamond processing, jewellery design, and exports, while supporting both domestic growth and export resilience.

(KNN Bureau)