Government restores duty-free replenishment facility for jewellery exporters

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NEW DELHI : The government has again permitted the gold and silver jewellery exporters to replenish the precious metal duty free after selling it at global exhibitions, a move which would help in promoting growth of sector.

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This facility of duty-free replenishment of the precious metals was stopped after implementation of the GS).

On Monday Directorate General of Foreign Trade (DGFT) issued a notification in this regard by amending a provision of (FTP) foreign trade policy which had stated that “no replenishment” of precious metal shall be available to exporter or the manufacturer where they are availing bthe enefits in respect of exported product.

An official of the (GJEPC) Gems and Jewelry Export Promotion Council of India said it is a welcome move as exporters were demanding for quite some time to resume facility.

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