Wait...
  1. Home >
  2. Export Import News >
  3. Import Duty >
  4. Belgium raises issue of 2 percent duty on diamond imports by India >
  5. Belgium raises issue of 2 percent duty on diamond imports by India

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

Belgium raises issue of 2 percent duty on diamond imports by India .


Date: 26-11-2013
Subject: Belgium raises issue of 2 percent duty on diamond imports by India
NEW DELHI: Belgium today raised the issue of imposition of 2 per cent duty on imports of polished and cut diamonds by India during a meeting with Commerce Minister Anand Sharma.

Diamonds account for a large part of trade between India and Belgium.

The diamond duty issue was discussed at the meeting of Sharma with Princess Astrid of Belgium and its Deputy Prime Minister Didier Reynders here.

According to an official, Sharma conveyed to the visiting side that the measure was necessitated due to economic reasons and the tax is applicable for imports from all the countries - not targeted specifically at diamond imports from Belgium.

"The Belgian side discussed the consequences of the recent special import tax of 2 per cent re-instituted by India on exports of polished and cut diamonds," the official said.

Of the world's polished diamond market, India's share is 60 per cent in terms of value, 85 per cent in terms of volume and 92 per cent in terms of pieces.

Eleven out of every 12 cut and polished diamond set in jewellery worldwide are processed in India. The cutting and polishing of diamond employs a million people in the country.

Antwerp in Belgium on the other hand is the key destination for rough diamonds.

More than 80 per cent of the world's rough diamond volume is traded through Antwerp. About 40 per cent of the world's natural industrial diamonds pass through the city.

Sharma also conveyed satisfaction over the signing of MoU between the two sides for exchange of information/data sharing on Kimberley Process.

KP is a joint initiative by governments, industry and the civil society to stem the flow of conflict diamonds - rough diamonds used by rebel movements to finance wars against legitimate governments.

Source : economictimes.indiatimes.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 12-12-2019
TRADE NOTICE No. 41/2019-20
Online filling and Issuance of Preferential Certificate of Origin under SAFTA and SAPTA for India's Exports to Nepal w.e.f. 18th December 2019

Date: 12-12-2019
Notification No. 35/2015-2020
Amendment in Para 2.25 of Foreign Trade Policy, 2015-20.

Date: 12-12-2019
Notification No. 63/2019 – Central Tax
Seeks to extend the due date for furnishing of return in FORM GSTR-1 for registered persons in Jammu and Kashmir having aggregate turnover more than 1.5 crore rupees for the months of July, 2019 to September, 2019

Date: 12-12-2019
Notification No. 64/2019 – Central Tax
Seeks to extend the due date for furnishing of return in FORM GSTR-1 for registered persons in Jammu and Kashmir having aggregate turnover more than 1.5 crore rupees for the month of October, 2019.

Date: 12-12-2019
Notification No. 65/2019 – Central Tax
Seeks to extend the due date for furnishing of return in FORM GSTR-7 for registered persons in Jammu and Kashmir for the months of July, 2019 to October, 2019.

Date: 12-12-2019
Notification No. 66/2019 – Central Tax
Seeks to extend the due date for furnishing of return in FORM GSTR-3B for registered persons in Jammu and Kashmir for the months of July, 2019 to September, 2019

Date: 12-12-2019
Notification No. 67/2019 – Central Tax
Seeks to extend the due date for furnishing of return in FORM GSTR-3B for registered persons in Jammu and Kashmir for the month of October, 2019

Date: 11-12-2019
Notification No. 65/2019-Customs (N.T./CAA/EXTENSION/DRI)
Appointment of CAA by DGRI - reg.

Date: 11-12-2019
Instruction No. 05/2019-Customs
Reporting of cases warranting action under PMLA.

Date: 10-12-2019
Notification No. 89/2019 – Customs (N.T.)
Appointing the date for enforcing section 88 (b) of the Finance (No. 2) Act, 2019 to bring out the changes in the First Schedule to the Customs Tariff Act, 1975.



Exim Guru Copyright © 1999-2019 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o Infodrive India
E-2, 3rd Floor, Kalkaji Main Road
New Delhi - 110019, India
Phone : 011 - 40703001