The Central Board of Indirect Taxes and Customs is initiating the formation of a panel to deal with the issues raised by the gems and jewelry business related to customs clearances. The business has highlighted issues such as the lack Jewelery News of valuers, challenges with the hand-carriage of gems and jewellery, and considerations about the Remission of Duties or Taxes on Export Products scheme. The drop in consumption of plain gold jewelry has impacted the manufacturers of plain gold jewelry from Tamil Nadu, Kolkata and Delhi.
- The resulting efficiency of various funding outcomes that might be generated through allocation to gold are hypothetical in nature, may not replicate precise investment results and aren’t guarantees of future results.
- Of the 38 watch and jewelry brands with brand-only stores in Australia, nearly 40 per cent are owned by LVMH, Richemont, or Kering.
- Diamond houses in India are going through scrutiny beneath the brand new sanctions regime that began on March 1 to dam Russian gems from affluent western markets.
- ICICI Bank has sanctioned Rs 500 crore debt facilities to Aditya Birla group’s Novel Jewels for its upcoming jewellery retail shops within the next quarter.