Demand for lab-grown diamonds rises during Karwa Chauth:Know 4 things before buying real diamonds

Karwa Chauth is tomorrow, and jewellery is selling briskly in the markets. This time, lab-grown diamonds-diamonds made in laboratories-are in much greater demand than genuine diamonds mined from the earth. Lab-grown diamonds are available at up to 70% lower prices than genuine diamonds. The key point is that there is not the slightest difference in their sparkle, strength or structure. If you are also planning to buy lab-grown diamond jewellery this Karwa Chauth, make sure you first understand the rules related to tax, GST, making charges and resale. 1. What are lab-grown diamonds? Are they genuine diamonds? According to Okera co-founder and CEO Lisa Mukhedkar, lab-grown diamonds are 100% real. In terms of brilliance, strength and texture, they are identical to mined diamonds. 2. How much GST is charged on lab-grown diamond jewellery? According to financial educator and CA Sakshi Jain, the tax rates on lab-grown diamonds are the same as those on natural diamonds and gold. 3. How to check certificates and hallmarking when making a purchase? When making a purchase, the diamond and gold components should be checked separately: 4. How much is the making charge, and what should you keep in mind when getting the bill prepared? There is no single fixed rate for jewellery making charges. It depends on how intricate the design is, whether the jewellery is handmade or machine-made, and whether you are buying it from a branded showroom or a local jeweller. 5. How much money will you get back when selling a lab-grown diamond? Lab-grown diamonds are being produced very quickly and in large quantities, so selling an old diamond fetches less money than selling a natural (mined) diamond: 6. How much capital gains tax will be charged on the sale? After the 2024 Budget, both lab-grown and mined diamonds are subject to the same capital gains tax. The tax depends on how long you held the diamond before selling it: