Centre exempts gold imported by Jewellery Exporters from Agri Cess
Imports of gold, silver bars and dore by jewellery exporters from the 2.5 percent Agriculture Infrastructure and Growth Cess is exempted by the Ministry of Finance.
Imports of gold, silver bars and dore by jewellery exporters from the 2.5 percent Agriculture Infrastructure and Growth Cess is exempted by the Ministry of Finance.
It retains that the AIDC adopted in the budget this year would attract precious metals imported for domestic use.
Colin Shah, Chairman of the Gem and Jewellery Export Promotion Council, said the cessation exemption for exporters would have a positive effect on the growth of exports of gems and jewellery and would provide the exporting community with significant relief.
The new cess made exports of jewellery inviable and uneconomical, he added.
The Budget lowered the import duty on precious metals from 12.5 per cent to 7.5 per cent, but imposed an extra cessation of 2.5 per cent, which silenced the industry's relief.
Show your support
Dear patron, thank you for being our reader. Readers like you are an inspiration for us to move Agri Journalism forward. We need your support to keep delivering quality Agri Journalism and reach the farmers and people in every corner of rural India.
Every contribution is valuable for our future.
Contribute NowDownload Krishi Jagran Mobile App for more updates on the Latest Agriculture News, Agriculture Quiz, Crop Calendar, Jobs in Agriculture, and more.