The Central Board of Indirect Taxes and Customs (CBIC) has issued a circular simplifying the regulatory framework for e-commerce exports of jewellery through Courier mode.
The Hon’ble Finance Minister in the Budget Speech of the year 2022 announced the implementation of a simplified regulatory framework to facilitate the export of jewellery through e-commerce. Subsequently, stakeholder consultations, including those with the Express Industry Council of India (EICI), Gems and Jewellery Export Promotion Council (GJEPC), e-commerce operators, members of the trade, officers working in the Directorate General of Export Promotion, Directorate General of Systems and Customs field formations, have been made.
A circular issued by the Board on Wednesday stated that the feedback received through the aforesaid consultations showed that a simplified regulatory framework is required for e-commerce exports of jewellery through courier mode.
This can be implemented through a standard operating procedure (SOP) for bringing uniformity and certainty on the process and steps to be followed to facilitate such exports via International Courier Terminals (ICTs).
Accordingly, the Board issued an SoP to accommodate the e-commerce business need, it incorporates a re-import process for returns of jewellery. For this, the Courier Imports and Exports (Electronic Declaration and Processing) Regulations, 2010 (hereafter referred to as Courier Regulations) have also been suitably amended vide Notification No. 57/2022-Customs (N.T.) dated 30.06.2022. The SOP is applicable to the e-commerce export of jewellery made of precious metals (whether or not studded or set with precious or semi-precious stones) falling
Last week, the Board has amended the Courier Imports and Exports (Electronic Declaration and Processing) Amendment Regulations, 2022 for the re-import of returned jewellery exported through the courier mode on an e-commerce platform.
The circular issued by the Board on Wednesday Standard Operating Procedure (SoP) for facilitating e-commerce jewellery exports through courier route, as it looks to provide a simplified regulatory framework for manufacturers and traders who want to export jewellery.
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