NEW DELHI: 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 ecosystem 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 export 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)