Jewellery industry flags tax, duty and regulatory priorities ahead of Budget 2026
Ahead of the Union Budget 2026–27, leading jewellery retailers, manufacturers and industry bodies outline expectations on GST, import duties, exports, digital gold regulation, working capital, and policy reforms to strengthen growth.
Union Budget 2025: Customs Duty on Gold Imports Remains Unchanged at 6%
The Union Budget 2025-26 brings relief and strategic reforms for the jewellery sector. While the customs duty on gold remains steady at 6%, key changes include new tariff classifications for gold and silver, along with significant duty cuts on platinum findings and jewellery components
Gems & Jewellery Sector Urges Government to Reduce GST to 1% in Upcoming Budget
The Indian gems and jewellery industry has called on the government to reduce the Goods and Services Tax (GST) to 1% in the upcoming Union Budget
Government Set to Increase GST on Gold and Silver to 5%
The Indian government is expected to increase the Goods and Services Tax (GST) rate on gold and silver from 3% to 5%. This anticipated hike follows recent reductions in the basic customs duty, as outlined in the latest Budget
GJC Aims for Uniform Gold Pricing Across India
The All India Gem and Jewellery Domestic Council (GJC) is working towards a uniform gold rate across India to create a level playing field for jewellers
Customs duty on cut & polished diamonds, gemstones cut to 5%
In her Budget speech, the Finance Minister said that customs duty on cut and polished diamonds and gemstones would be reduced to 5% from the existing 7.5%
GJC seeks reduction of GST on jewellery to 1.25% from 3%
GJC has also urged the Finance Minister to raise the PAN card limit from Rs 2 lakh to Rs 5 lakh, citing that many households in rural India do not hold PAN
B V R Subrahmanyam, Commerce Secretary Assures Full Support To Gems & Jewellery Industry to Boost Exports
In an exclusive interactive session organised by the Gem and jewellery Export promotion council (GJEPC), Shri B V R Subrahmanyam, Commerce Secretary, MOC & I , Govt of India spoke to the gem and jewellery exporters on 4th September in Mumbai
One Hell of a Year
The Year That Was
Jewellery demand rises ahead of expected GST hike as gold prices moderate
Domestic gold prices have declined 3.6 per cent since its peak of Rs 39,031/10g on September 4, taking cue from global prices
Rumors suggest tax on gold to be hiked by GST Council
Jewellers alleged that the government is likely to increase GST rates for the yellow metal from three per cent to over 10 per cent
September gems and jewellery exports dipped 6.2%
Indian gems and jewellery exports dipped $3.34 billion against $3.56 billion logged in September 2018
Indian jewellery industry in recession, job losses likely: GJC
In Union Budget 2019-20, gold import duty was raised to 12.50 percent to 10 percent while GST on jewellery was fixed at 3 percent as compared to 1 percent under the previous tax regime
Trade expects new government to upgrade gold as asset class
The trade is also expecting that government will make an effort to increase banking to the gem and jewellery sector, which has been facing the brunt of the banks after the infamous Nirav Modi scam
Gem & Jewellery Exporters Exempted from 3% IGST on supply of Gold by Nominated Agencies from January 1, 2019
The GST Council recently announced that gem & jewellery exporters will no longer have to pay 3% IGST to nominated agencies (banks) from 1st January 2019.
