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20 January, 2018

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GST Rates Reduced to 0.25% from 3% on Diamonds & Precious Stones

GST Rates Reduced to 0.25% from 3% on Diamonds & Precious Stones

The 25th GST Council meeting was held at New Delhi on 18.01.2018.  The said meeting was chaired by Shri Arun Jetley, the Hon’ble Finance Minister.  The decisions relating to-
·         exemptions;
·         changes in GST rates;
·         ITC eligibility criteria;
·         Rationalization of rates;

were taken by the Council in the said meeting.  However the said decisions will be given effect to through Gazette Notifications/circulars which shall have the force of law.


From 3% to 0.25%


The GST Council recommended the rate reduction from 3% to 0.25% to diamonds and precious stones

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