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IGST relief on re-import of goods to promote exports: GJEPC


Date: 26-07-2019
Subject: IGST relief on re-import of goods to promote exports: GJEPC
New Delhi, July 25 () The government's decision to give relief from IGST on re-import of goods after exhibition would help in promoting shipments of gems and jewellery, an industry body said on Thursday. 

The Gems and Jewellery Export Promotion Council of India (GJEPC) said goods exported for exhibition purpose or on consignment basis were being levied IGST on re-import of the unsold products which was causing huge blockage of funds. 

 It was also discouraging exporters to participate in overseas exhibitions which resulted in decline of exports, GJEPC said in a statement. 

"Now, Revenue Department has come out with a circular which exempts this from IGST (integrated goods and services tax)," it added. 

GJEPC Chairman Pramod Agrawal hailed the government's move. 

Gems and jewellery exports declined 5.32 per cent to USD 30.96 billion in 2018-19.  RR SHW SHW

Source: timesofindia.indiatimes.com 

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