Government issues SOP for e-commerce exports of jewellery through courier
New Delhi [India], July 14 (ANI): The Central Board of Indirect Taxes and Customs (CBIC) has issued a standard operating procedure (SOP) for e-commerce exports of jewellery through courier mode, the Ministry of Finance said on Thursday.
ANI
Jul 14, 2022 22:43 IST
New Delhi [India], July 14 (ANI): The Central Board of Indirect Taxes and Customs (CBIC) has issued a standard operating procedure (SOP) for e-commerce exports of jewellery through courier mode, the Ministry of Finance said on Thursday.
The Board issued a simplified regulatory framework for e-commerce exports of jewellery on June 30.
The SOP details the handling, movement and procedural aspects for such exports, based on electronic declarations, through international courier terminals, the ministry said in a statement.
The framework keeps in view the need for uniformity of action by Customs that brings certainty for the trade. It also addresses a unique requirement of the e-commerce Eco-system for re-import of rejects in certain cases to the prescribed extent.
In the Union Budget presented this year, Finance Minister Nirmala Sitharaman had proposed to come up with a simplified framework for e-commerce exports of jewellery.
Following this, the CBIC held wide-ranging consultations with stakeholders, such as industry associations, members of the trade, e-commerce operators, authorised couriers and the customs field formations, before finalizing the SOP. A period of one month has been provided for transition. The first phase begins with exports through Bengaluru, Delhi and Mumbai locations, the ministry said. (ANI)
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