ANNOUNCEMENT 25 May 2018

The drawback provided on exports of silver jewelry and other articles has been reduced.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising
Inception date: 25 May 2018 | Removal date: 23 Sep 2018

Tax-based export incentive

On 25 May 2018, the Ministry of Finance through Notification No. 46/2018-Customs (NT) reduced the duty drawback rates on exports of silver jewelry and other articles from INR 3513.8 (USD 51.86) to INR 2851 (USD 42.07) per kg of net silver content.

The drawback rates were later increased on 24 September 2018 (see related State Act). 

* INR to USD conversion as on 25 May 2018 - INR 67.76 / USD

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