GOLD NEWS

Govt defers gold, silver jewellery export wastage norms by a month

Mon July 29 2024

The government Monday deferred by a month the new norms for permissible wastage amount for gold, silver and platinum content in jewellery exports till August 31, 2024. The decision was taken on the request of Gems

and Jewellery Export Promotion Council (GJEPC), the Directorate General Of Foreign Trade (DGFT) said in a public notice. The public notice dated May 27 is kept in " “abeyance till August 31, 2024 for reassessment of

permissible wastages and SIONs as per request of GJEPC,” the DGFT said.

In May, the DGFT issued a public notice tightening these norms, following which the exporting community flagged its concerns. It had amended the percentage of wastage by weight in export of plain jewellery to 0.5% for gold and platinum from 2.5% earlier and in studded jewellery to 0.75% from 5% before.

Source: https://economictimes.indiatimes.com/