Duty Raised to 7.5% from 5% on Cut and Polished Coloured Gemstones, Diamonds and Non-Industrial Diamonds

[Notification No. 68 /2018-Customs dated 26 September, 2018]

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]