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<h1>India Raises Import Duty on Gemstones and Diamonds from 5% to 7.5% Effective September 27, 2018.</h1> The Government of India, through the Ministry of Finance, has issued Notification No. 68/2018-Customs, amending the previous Notification No. 50/2017-Customs. Effective from September 27, 2018, the customs duty rate on the import of gemstones and diamonds has been increased from 5% to 7.5%. This amendment, made under the powers conferred by the Customs Act, 1962, and the Customs Tariff Act, 1975, is deemed necessary in the public interest. The changes apply to specific entries in the notification's table, affecting serial numbers 349, 350, and 351.