GJEPC Briefs Revenue Secretary Mr. Tarun Bajaj About Trade Issues

GJEPC Chairman Mr. Colin Shah informed Mr. Tarun Bajaj, Revenue Secretary, Ministry of Finance, of certain trade-related impediments during his visit to the Precious Cargo Customs Clearance Centre (PCCCC) in Bharat Diamond Bourse on 16th August.

Mr. Shah presented a list of critical issues hampering the industry, including: Hand Carriage of Gems & Jewellery through all Airports; Easing Regulatory Measures for Retail Exports of Jewellery through e-Commerce; Set-off of Export receivables against Import payables; Making MyKYC Bank ID Mandatory for the Gems and Jewellery entities in India dealing with precious products under IT HS Chapter 71; and Turnover Taxation Scheme for Rough Diamonds sold by Foreign Mining Companies in SNZs, etc.

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