A simplified regulatory framework for e-commerce exports of jewelry through courier mode has been issued on 30.06.2022 by the Central Board of Indirect Taxes and Customs (CBIC) in the form of a Standard Operating Procedure (SOP). The SOP details the handling, movement, and procedural aspects of such exports, based on electronic declarations, through International Courier Terminals. The framework keeps in view the need for uniformity of action by Customs that brings certainty to the trade. It also addresses a unique requirement of the e-commerce Ecosystem for the re-import of rejects in certain cases to the prescribed extent.
It may be recalled that the implementation of a simplified framework was announced by the Hon'ble Finance Minister in this year's Budget speech. Following this, the CBIC held wide-ranging consultations with stakeholders, such as industry associations, members of the trade, e-commerce operators, authorized 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.
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