CBIC increases Standard Rate of Custom Duty on Cut and polished coloured gemstones, Diamonds including lab grown diamonds-semi-processed, half-cut or broken and Non-industrial diamonds including lab-grown diamonds (other than rough diamonds) from 2.50% to 7.50% vide Notification No. 68/2018- Customs, Dated: 26th September, 2018
Government of India
Ministry of Finance
(Department of Revenue)
New Delhi
Notification No. 68/2018- Customs
Dated: 26th September, 2018
G.S.R. 928(E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) and sub-section (12) of section 3 of the Customs Tariff Act, 1975 (51 of 1975), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India, Ministry of Finance (Department of Revenue), No. 50/2017-Customs, dated the 30th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide, number G.S.R. 785(E), dated the 30th June, 2017, namely:-
In the said notification, in the Table,-
(1) against S.No. 349, for the entry in column (4), the entry “7.5%”shall be substituted;
(2) against S.No. 350, for the entry in column (4), the entry “7.5%” shall be substituted;
(3) against S.No. 351, for the entry in column (4), the entry “7.5%” shall be substituted.
2. This notification shall be effective from the 27th September, 2018.
[F.No. 354/374/2018-TRU]
(Mohit Tewari)
Under Secretary to the Government of India
Note: The principal notification No.50/2017-Customs, dated the 30th June, 2017 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide, number G.S.R. 785(E), dated the 30th June, 2017 and last amended, vide, notification No. 62/2018 -Customs, dated the 17th September, 2018, published, vide, number G.S.R.889 (E), dated the 17th September, 2018.
