New Delhi, Jan. 12 -- With a view to strengthen the gems and jewellery industry, the Government has taken a number of steps, including establishment of Special Notified Zone (SNZ) and setting up of common facility centres for gems and jewellery sector.
The measures include creation of separate ITC HS Code for lab grown diamond, reduction of GST rates for cut and polished diamonds and precious stones, exempting IGST on import of gold by specified agencies and banks, official sources said.
Exemption from GST on supply of gold by nominated agencies to exporters and providing financial assistance for participation of international fairs, for organising buyer seller meets, creation of export related infrastructure under various schemes of Depa...