Customs department brings simplified regulatory framework for e-commerce jewellery exports via courier

The customs department has put in place a simplified regulatory framework for e-commerce exports of jewellery through courier mode, the finance ministry said on Thursday.

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 ecosystem for re-import of rejects in certain cases to the prescribed extent, it said.

The simplified regulatory framework for e-commerce exports of jewellery through courier mode has been issued on June 30 by the Central Board of Indirect Taxes and Customs (CBIC) in the form of a Standard Operating Procedure (SOP).

TRENDING NOW

CCI clears Emirates Telecommunications Group-Vodafone deal

Tata Motors share price crosses Rs 700 mark ahead of Tata Tech listing

Unemployment rate dips to 6.6% in September quarter: Govt Survey

PPF vs VPF vs ELLS Mutual Funds: Options that give you returns and tax benefits in your retirement planning

iQOO 12 exclusive first look and key details ahead of December 12 launch

SBI Fixed Deposit (FD): How much return will you get on Rs 5 lakh investment in 1, 2, 3, 5 and 10 years?

US economic growth for last quarter is revised up to a 5.2% annual rate

LIC offers guaranteed return plan with the launch of Jeevan Utsav

New Zealand's monetary policy to remain restrictive: Central bank

Flair Writing IPO: Check allotment status, new listing dates and other details

2023 Exit Polls: Check when and where to view result predictions for Rajasthan, Madhya Pradesh, Chhattisgarh, Telangana, Mizoram election

Yatharth Hospital suffer worst single-day fall ever; what is worrying investors?

Retail malls to add 30-35 mn sq ft, to invest around Rs 20,000 crore in 3-4 years: Report

Hinduja Group on income tax radar; IT department conducts surveys at Hinduja Global Solutions and Ashok Hinduja's residence

Government working to boost cotton yields, pilot project launched: Official

See Zee Business Live TV Streaming Below:

The SOP details the handling, movement and procedural aspects for such exports based on electronic declarations through international courier terminals.

The implementation of simplified framework was announced by Union finance minister Nirmala Sitharaman in this year's Budget speech. 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 finalising 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.