New Delhi, Sept. 6 -- 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 d...