GJEPC meets with customs officials to address diamond and jewellery industry concerns

The Gem and Jewellery Export Promotion Council held a meeting with customs officials to discuss issues facing the diamond and jewellery industry, such as back-charges on imports of sawn diamonds, and explore ways to streamline operations in the sector.

The GJEPC’s vice chairman Kirit Bhansali and Diamond Panel members Ajesh Mehta and Russell Mehta joined other GJEPC leaders to meet with government customs officials, the GJEPC announced on its website. The Central Board of Indirect Taxes and Customs’ customs member Surjit Bhujabal led the meeting and provided insight into department’s goals and processes.
 
Topics addressed during the meeting included raising concerns pertaining to the issuance of show cause notices to diamond businesses which sought customs duties on past imports of sawn diamonds which took place prior to February 2, 2022. The GJEPC also requested that the customs department include of a height variance parameter in its ‘Notification No. 16/2014-customs for duty-free re-import of cut and polished diamonds sent for certification/grading’. The industry is keen to expand the RMS facility for gems and jewellery exported under $50,000 for countries other than Hong Kong and Dubai.
 
“The customs officials listened attentively to the concerns raised by the industry and assured the GJEPC that they would take these matters into consideration,” announced the traders’ body on its website. “The meeting underscored the importance of ongoing dialogue between the government and the industry to address challenges and promote growth in the diamond and jewellery sector.”