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Govt Exempts Exhibition jewellery from 3% ISGT, Exporters Rejoice
July 24, 2019
In what’s certainly a welcoming move for the jewellery exporters in the country, the government has exempted jewellery and gems shipped for exhibitions and trade shows in foreign countries from 3% Integrated GST i.e. IGST. This move will benefit around 25% of annual jewellery and gems exports that come back to the country unsold.
According to estimates, around 35 billion USD worth of jewellery is exported by India every year and the value of total returned pieces stands at around 7-8 billion USD.
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