Browsing: Nirmala Sitharaman

The Gem & Jewellery Export Promotion Council (GJEPC) hails GST reforms reducing IGST on small diamonds and GST on jewellery boxes. These measures ease export pressures, lower costs, and strengthen India’s diamond and jewellery ecosystem.

The GST structure has been overhauled: the 12% and 28% slabs are removed, most items move to 5% or 18%, a special 40% slab is introduced for sin and luxury goods, and individual life and health insurance is exempted. These changes take effect from 22 September 2025.