Jewelleries to get cheaper as customs duty reduced on jewellery and parts: Budget 2025 Experts say this will bost jewellery consumption in India. The customs tariff on Platinum Findings has been reduced to 5% from earlier 25%. Read below to know more
The Finance Minister has reduced the customs tariff for item code- 7113 which is articles of Jewellery and partsthereof. The old customs tariff on jewellery and parts thereof was 25% and now in Budget it is reduced to 20% with effect from February 2, 2025. The customs tariff on Platinum Findings has been reduced to 5% from earlier 25%.
Colin Shah, MD, Kama Jewelry, “The reduction of Jewellery duty from 25% to 20% is a welcome move. For a country like India who is known for its high jewellery consumption, this will definitely boost the demand in the domestic market specially in luxury. Similarly, slashing of duty on platinum finding from 25% to 5% is yet another bold move which will prove beneficial for the entire gems and jewellery industry. #sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;}
This story originally appeared on: India Times - Author:Faqs of Insurances
