CBIC Streamlines Customs Rules for Precious Metals and Gemstones

In a bid to enhance compliance and facilitate ease of doing business, the Central Board of Indirect Taxes and Customs (CBIC) has issued a consolidated notification — No. 45/2025–Customs, dated 24th October 2025 — unifying several earlier notifications related to the import of precious metals, gemstones, and similar goods into a single comprehensive framework.

The new notification integrates all prior duty-related circulars covering gold, silver, platinum, natural and lab-grown diamonds, and coloured gemstones, replacing multiple notifications issued since 1994. Importantly, the move does not modify existing customs or IGST rates.

According to the revised schedule, rough diamonds remain duty-free, while rubies, emeralds, sapphires, and rough coloured or semi-precious stones continue to attract a 0.5% duty. Gold and silver dore bars, refined bars, and findings retain a 5% basic customs duty, and lab-grown diamonds along with pre-forms of precious and semi-precious stones maintain their existing rate structure.

By consolidating these notifications, the CBIC aims to simplify procedures, eliminate ambiguity, and ensure greater transparency for importers in the precious metals and gemstone sector.