Finance Ministry Revises Duty Drawback Rates Upward for Gold and Silver Articles [Read Notification]

The Ministry of Finance issued Notification No. 26/2025 – Customs (N.T.) dated April 17, 2025, announcing revised duty drawback rates for select gold and silver articles under Chapter 71 of the Customs Tariff. The move comes as a partial reversal of earlier reductions, aimed at offering support to jewellery exporters amid rising global bullion costs.

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Revised Drawback Rates

Effective immediately, the revised rates are:

Tariff Item	Product	Previous Rate (Rs. )	New Rate (Rs. )
711301	Gold jewellery (≥.995 purity)	335.50/gm	405.40/gm
711302	Silver jewellery (≥.999 purity)	4468.10/kg	4950.03/kg
711401	Silver articles (≥.999 purity)	4468.10/kg	4950.03/kg

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The revised rates replace those notified earlier via Notification No. 55/2024, dated August 23, 2024, which had sharply reduced refund values from their original levels (Rs. 704.10/gm for gold and Rs. 8949/kg for silver).

With this revision:

• Exporters may see improved refund inflows.
• There may be room for revised export pricing and renegotiation of contracts.
• It reinforces government backing for one of India’s major export verticals.

Background

The drawback rates for jewellery items were hugely reduced in 2024, a decision that drew concern from exporters who rely on these rebates for cost recovery and working capital. The halving of rates was seen as a blow to competitiveness, particularly for small and medium-scale exporters in the gems and jewellery sector.

To Read the full text of the Notification CLICK HERE

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