Diamond exports fall sharply on Customs' approach; changing preferences
Jan 07,2020In the first eight months of FY20, exports of cut and polished diamonds fell 19.4 per cent. This kept the overall gems and jewelry exports lower by 5.8 per cent at $25.5 billion. Polished diamonds and coloured gemstones were big under performers in this basket. But gold and silver jewellery as well as synthetic gemstones have shown positive trends.
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DGFT told to tighten system for accrediting exporters
Jan 07,2020The Central Board of Indirect Taxes and Customs (CBIC) has asked Director General of Foreign Trade (DGFT) to beef up its system used for accrediting exporters after investigations brought to the fore integrated goods and services tax (IGST) fraud by some ‘star’ status holding exporters.
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