GJEPC Applauds CBIC’s New Notice To Simplify Jewellery E-Commerce Policy
The government’s decision to streamline jewels e-commerce policy by permitting its exports via courier was praised on Friday by the Gem and jewels Export Promotion Council (GJEPC), who said the move would boost the sector.
“We are glad that the government has adopted our suggestions to make the rules on jewellery e-commerce simpler. The latest announcement and circular from CBIC demonstrate their responsiveness to market demands and would help exporters, according to GJEPC chairman Vipul Shah.
Shah said, “The reduction in documentation requirements and streamlining of shipping bill details will improve the export process and support the expansion of e-commerce exports in the gem and jewellery sector.”
For exporters who don’t want to re-import their jewels, the Central Board of Indirect Taxes and Customs (CBIC) released a notice and circular on June 15 to further simplify the process.
According to the statement, the new regulations do away with the need for exporters to complete certain extra areas relating to the item-level identification of jewellery.
Additionally, it said that several document attachments that were required when submitting the courier shipment bill-V have been eliminated.
Exports will start via Bengaluru, Delhi, and Mumbai in the first phase, it stated, and a one-month transition time has been allowed.
