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Good News For Exporters! Gems, jewellery now can be couriered globally
Gems and jewellery exporters have been permitted to send their goods across the globe to their buyers using the convenience of cost effective and reliable courier services.
The Central Board of Indirect Taxes and Customs (CBIC) has issued a circular clarifying that extant regulations do not restrict exports of gems and jewellery through the courier mode and such restrictions only apply to imports.
This would mean that gems and jewellery exports could be done through courier services following all other regulations in place for such exports.
Doubts had arisen over use of courier services for exports as Regulation 2(2)(a)(iv) of the Courier Imports and Exports (Electronic Declaration and Processing) Regulations, 2010 places a restriction on imports of precious and semi-precious stones, gold or silver in any form, through courier.