Govt issues standard SOP for e-commerce exports of jewellery

Tags: Economy/Finance

The Finance Ministry on 15 July has issued a simplified regulatory framework standard operating procedure (SOP) for e-commerce exports of jewellery through courier mode. 

Important facts

• The Framework takes into account the need for uniformity of customs proceedings which brings certainty to the trade.

• It also addresses a unique requirement of the e-commerce eco-system for re-import up to the prescribed limit in certain cases.

• The simplified regulatory framework in the form of Standard Operating Procedure (SOP) has been issued by the Central Board of Indirect Taxes and Customs.

• The SOP details the operational, movement and procedural aspects of exports based on electronic declarations through international courier terminals.

• The first phase has been started with exports through Bengaluru, Delhi and Mumbai.