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Indian diamond industry: Looking forward


08 march 2021
22 february 2021
Lately, the Indian diamond industry, on the whole, had been reeling with the effects of the implementation of GST and demonetization with several diamond polishers losing their jobs. The Indian diamond trade has asked the Government for an amendment in taxation provisions to allow the sale of rough diamonds in the Special Notified Zone (SNZ) in Mumbai; and exemption of two-per cent equalization levy on rough diamond sales. According to industry members, miners could pay a ‘turnover tax’ not exceeding 0.16%, which is the prevailing rate in Belgium. Labourers are also demanding implementation of labour laws and Factory Acts in the diamond factories, claiming that around 10 polishers across the state had committed suicide in the last few months due to joblessness. ....

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Pinning hopes on the Budget for impetus | Surat News


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AHMEDABAD/SURAT/ VADODARA: After having battled Covid-induced disruptions and slowdown, businesses are now looking at 2021 with great hopes of recovery. Several industrial sectors are expecting far-reaching measures in the forthcoming Union Budget for 2021-22 to boost economic revival.
Special policy needed to boost APIs production
To become self-reliant in drug manufacturing, the pharmaceutical industry wants a special policy and investment-based tax incentives for APIs (pharma raw materials) manufacturing in India Currently, the industry is heavily dependent on China for APIs.
The Indian Drug Manufacturers Association also called for strengthening healthcare infrastructure in rural and semi-urban areas, and it has suggested a weighted tax deduction of 200% on the amount spent for such infrastructure activities. The other demands of the sector include Customs duty exemption to medical devices, applying 12% GST on me ....

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Angola Invites India to Invest in Diamond Mining and Processing

Angola Invites India to Invest in Diamond Mining and Processing
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