Customs department takes steps to make business-to-customer jewellery shipments more viable
The Ministry of Finance, Department of Revenue’s Central Board of lndirect Taxes and Customs has allowed gem and jewellery exports to be sent via courier, making international business-to-customer jewellery sales more viable, according to the Gem and Jewellery Export Promotion Council.
The Customs Department announced in a circular dated November 27 that imports and exports of gems, and gold and silver in any form are permitted through courier, clarifying existing regulations and opening up small-scale jewellery trade. The GJEPC praised the move, sharing that it had long requested this.
“The earlier compulsion to send goods only through the ‘cargo/B2B” trade’ mode had resulted in the high cost of operations, which had been preventing the sector to undertake B2C e-commerce exports,” said GJEPC chairman Colin Shah, the GJEPC reported.
“For instance, a shipment originating from China or the Middle East to the US cost $3.50 (Rs 259) and $5, respectively, whereas the cost for a shipment originating from India to the US was as high as $65 to $100.”
Fine jewellery businesses will now have more opportunities to reach international customers.
“With this clarification, the government has added one more step in the direction of ease of doing business, which will further boost business,” said Shah.
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