GJ Town India

Risky exporters are 3.5% of the total exporters! Why Manual checks in IGST refunds introduced! Some newspapers have highlighted a perceived set-back to the automated process of refunds for exporters under GST on account of the introduction of manual checks to curb large scale frauds in IGST refunds. These news items regrettably create a misleading impression that genuine exporters would suffer on account of the newly introduced verification process. The CBIC has recently instructed its Customs and GST formations to verify the correct availment of input tax credit (ITC) by few exporters who are perceived as “risky” on the basis of pre-defined risk parameters. Only 5,106 risky exporters have been identified so far as against about 1.42 lakh total exporters.   Thus the risky exporters are only 3.5% of the total exporters.   Further, in the last two days i.e. 17.06.2019 and 18.06.2019 only 1,436 Shipping Bills filed by total 925 exporters have been interdicted. C

US$345K industry training initiative When Nicholas Simukoko and Sonny Kanyinji enrolled at the University of Zambia and Copperbelt University respectively, they had dreams of completing their studies, working in the mining industry and improving their families’ lives. While they were exceptional students, both men faced financial hardships that threatened to cut their studies short and derail any hopes they had of providing a better life for their families. “It was hard for me to concentrate at school because it was difficult to raise my school fees. I could not study peacefully,” said Mr Simukoko, who was being supported by his single parent mother and was not on the government bursary programme. Mr Kanyinji faced a similar struggle. But they did not give up, and despite all the hardships they faced, they concentrated on their studies and excelled at their schoolwork. Their hard work paid off when they were selected to benefit from Kagem Mining’s US$345,000 industry

Irasva offers, Where…Sky is the limit! Irasva, the newest jewellery destination for liberated women, introduces its foremost collection of invigorating jewels with encouraging stories - Skyward Bound by Irasva. The essence of this collection lies in the beauty of assertively soaring high to achieve lofty ambitions, braving all storms, setbacks and lulls. The collection pays tribute to this determination that finds magnificent forms to be embraced with pride every day. The Skyward Bound Collection captures the memoirs of the adventurous journey towards achieving one’s ambitions. Each piece of this collection narrates a rare story of its own, celebrating the well- deserved wings of freedom. The collection offers a wide range of options to choose from, inspiring every woman to adorn her favorite version. Artistically crafted in white, pink and yellow gold each piece exhibits a different version of freedom that the motif wings signify. Combined with superlative in-house

GJEPC announces 3rd IDW BSM in Mumbai Lin Qiang will be the Guest of Honour at the 2019 Bharat Diamond Week! The Bharat Diamond Bourse (BDB) in Mumbai has welcomed the announcement from the Gem and Jewellery Export Promotion Council (GJEPC) that it will be holding a specially organised Buyer-Seller meeting at around the same time as the third edition of the Bharat Diamond Week (BDW) which takes place at the bourse from 14 to16 October. The GJEPC will be holding its 3rd India Diamond Week Buyer-Seller Meet in Mumbai from October 15-17. "I am delighted that the GJEPC event will be taking during the time of the Bharat Diamond Week," said Bharat Diamond Bourse Vice-President Mehul Shah, who heads the BDW. "It is critical for the Indian diamond industry that we have these two special events taking place. The fact that they are taking place at more or less the same time creates a great deal of excitement and many business opportunities. We are del

24.98 carat diamond earns US$190K BlueRock Diamonds PLC, diamond producer which owns and operates the Kareevlei Diamond Mine in the Kimberley region of South Africa have sold the 24.98 carat diamond, recovered earlier this month. The Diamond achieved an auction price of US$190,000. Mike Houston, Executive Chairman commented, “We are delighted with the sale of our largest diamond to date, a 24.98 carat gem quality stone, which showcases the potential of Kareevlei. We continue to make excellent progress implementing our development strategy to increase production and are clearly seeing the impact of higher throughput being achieved reflected in the number of high value stones we continue to produce. To this end, I look forward to providing a more detailed update in our quarterly production report, which is expected to be announced in early July.” 

WDC President calls on KP-member countries to enact measures that enable diamonds to meet their full developmental potential! WDC President Stephane Fischler has called on Kimberley Process-member governments to do what is necessary to safeguard the interests of their mining communities, and in so doing optimize the developmental potential of their natural resources. He was speaking during the Opening Session of the 2019 Intersessional Meeting of the Kimberley Process (KP), which opened today in the Indian city of Mumbai. "We must agree that the Kimberley Process should ensure that each government takes responsibility to ensure a chain of provenance, earning the trust of consumers wherever they are, and in so doing produce the revenues that must filter back to the grass roots of the mining communities," Mr. Fischler stated. Historically, he noted, one of the most critical factors determining whether a country's economy is able to take advantage of the p

BlueRock Diamonds explores from Kareevlei BlueRock Diamonds plc, the AIM listed diamond mining company, which owns and operates the Kareevlei Diamond Mine in the Kimberley region of South Africa (Kareevlei), is pleased to announce that it has recovered its largest diamond to date, a 24.98 carat gem quality stone. This diamond will shortly be put to tender, the results of which will be known on Monday 17 June. The largest diamond prior to this was 16.28 carats, which sold for USD 78,947.  Mike Houston, Executive Chairman commented, “This record recovery of such a high-quality diamond is an exciting milestone and underpins why we are so confident about the potential of the Kareevlei mine.  We have a comprehensive development plan to increase production and I look forward to providing further updates as we progress.”  Market Abuse Regulation (MAR) Disclosure - Certain information contained in this announcement would have been deemed inside information for the purposes

Synthetic, Laboratory-Grown Diamond Truths: Eco/Environmental Claims! Recently the Diamond Producers Association (DPA) launched an expanded offering of educational assets; Asset mix includes videos, photos, infographics and in-store signage, at JCK Las Vegas, adding to the already robust set of materials available on the DPA trade portal. The new asset package includes a free social media asset library that will be expanded regularly to help retailers feed their digital channels with fresh, insightful and compelling content for consumers. The social media asset mix includes both static images as well as video assets which drive to the recently released Total Clarity platform. Out of the mix, here is the key view that is being carried with DPA infographics: 1: Most eco-claims made by laboratory-grown diamond (LGD) manufacturers are unsubstantiated and in violation of U.S. federal guidelines. Many LGD manufacturers claim their products are environmentally frien

The Bill to replace the previous Ordinance, 2019 (12 of 2019) The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved to introduce a Bill, namely, the Special Economic Zones (Amendment) Bill, 2019 that is the Bill to replace the Special Economic Zones (Amendment) Ordinance, 2019 (12 of 2019).  The Bill will be introduced in ensuing session of the Parliament. After the amendment of sub-section (v) of section 2 of the Special Economic Zones Act, 2005, a trust or any entity notified by the Central Government will be eligible to be considered for grant of permission to set up a unit in Special Economic Zones. The Special Economic Zones (Amendment) Ordinance, 2019 was promulgated on March 2, 2019. It amends the Special Economic Zones Act, 2005 which provides for the establishment, development and management of Special Economic Zones for the promotion of exports. Definition of person: Under the Act, the definition of a person includes an indi

A continued market interest over 3 carat diamonds! Alrosa, a global leader in diamond mining, held a tender for polished diamonds of own manufacture in Israel. The company’s cutting division, Diamonds Alrosa organized the tender. The company sold 14 polished diamonds with total weight of 108 carats, and 48 fancy colored polished diamonds weighing 131.6 carats in total.  The overall revenue amounted to $2.2 million. Firms from Israel, the US, Belgium, India, Hong Kong and Russia participated in the tender. “There is a continued interest in large polished diamonds over 3 carats in the market. Our assortment mostly consists of such stones.  In Israel, we presented polished diamonds of different colors and cuts. Despite the relatively weak market, the auction went well, and we are pleased with the results,” said Pavel Vinikhin, Director of the Diamonds Alrosa cutting division. In the fall, Alrosa plans to hold the next polished diamond tender in Israel. In

The new Icon Damascus by Meccaniche Veloci Meccaniche Veloci presents the new Icon Damascus, an unrealised and original version of the Icon line. The Italian soul of the brand is the fuel that feeds the strong creativity of the Maison. Icon Damascus is exceptionally made of steel, the timepiece explores a steel technique used for more than a thousand years. The allure of history turns into a very topical aesthetic and design concept. The steel is stretched and folded down on itself many times in order to be forged. This process creates a unique pattern that becomes the proud protagonist of the timepiece’s case. The decorative motif of the Damascus steel originates from the union of different types of metal; this aspect corresponds to an exceptional resistance and stability quality over time. The metal of the 49 millimetre case and of the bezel shows a texture characterized by irregular “waves” that create shiny and opaque effects. In this unreleased background stan

Silver and ruthenium coating to get rid of the microbes! Harmful bacteria can survive in space under zero-gravity conditions. That can make for some pretty unhealthy living and working conditions on the International Space Station (ISS), which has been continually inhabited since November 2000. One of the areas which scientists found particularly rife with bacteria is the toilet door. Such infestations are more dangerous for astronauts in space because prolonged time in orbit has been shown to reduce a person’s immune system. Microgravity, along with solar and cosmic radiation, changes the immune-regulatory system of the crew, leaving them more susceptible to pathogens. “Spaceflight can turn harmless bacteria into potential pathogens,” said senior study author Elisabeth Grohmann of Beuth University of Applied Sciences, Berlin, in a prepared statement.  “Just as stress hormones leave astronauts vulnerable to infection, the bacteria they carry become hardier -de

Retains SCS Global Services to Develop Sustainability Certification The Lab Grown Diamond Council (LGDC) trade organization has retained an internationally recognized third-party certifier and standards developer, SCS Global Services (SCS), to create the first sustainability standard in the diamond and jewelry market. Certification to this premier standard will involve a comprehensive assessment of the lab grown diamond production process, compliance auditing, diamond testing, and traceability, and will result in the issuance of SCS Sustainably Grown Diamond certification mark. This consumer-focused mark will be geared toward point-of-sale messaging and advertising. “As an industry, we recognize the high interest from consumers to be provided valid, third-party verification of the sustainability and origin of products they buy,” said Chris Casey, LGDC president. “An important early initiative as an organization was to retain SCS to drive transparent reporting on the