The authorities has accelerated obligation disadvantage quotes for gold and silver jewelry, a move that could make Indian exports from those sectors more competitive within the global market.
The drawback fees have been raised to Rs 372.9 consistent with gram for gold jewelry from Rs 272 in line with gram, according to a notification of the finance ministry.
Similarly, for silver jewellery, it’s been raised to Rs four,332.2 in step with kilogram, from Rs three,254.
“This notification shall come into impact from November 16, 2019,” the notification has stated.
Under responsibility drawback, exporters get a refund of all obligation and taxes which had been paid for the inputs against the exported products.
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