GJEPC hosted the 5th session of its two-month Exporters Mentorship Program (EMP) on 2nd January 2025. The virtual session, attended by over 80 participants, focused on Export Documentation, a critical aspect of international trade. This session aimed to equip participants with the knowledge and practical insights necessary to streamline their export activities by simplifying complex processes.
The session featured Mr. Amit Mulani, Owner, Atlantico International, International Trade Advisor, as the keynote speaker. He emphasised the importance of accurate documentation, including proper HS code identification, clearly defined payment terms, and comprehensive invoicing. Mr. Mulani also highlighted the need for strict adherence to government regulations, such as minimum value addition and maximum wastage norms, especially for gold and diamond jewellery. He further advised exporters to utilise GJEPC’s daily bullion rates for accurate pricing.
The session delved into GST rules for exports, outlining three key approaches: paying GST and claiming a refund, utilising a Letter of Undertaking (LUT) for exemption, or availing the reduced 0.1% GST rate for local purchases. Mr. Mulani explained the procedural steps for each method and stressed the importance of accurate documentation to avoid delays and penalties. He also explained the need for detailed material breakdowns on invoices, including the use of precious metals and gemstones.
For jewellery exports, Mr. Mulani discussed the rules for invoicing and compliance, such as accurate listing of buyers and consignees and maintaining proper records for Customs. He clarified the differences between net and gross weights for gold and addressed the specific requirements for transferring goods through third-party logistics providers. The session concluded with guidance on importing gold, silver, and platinum, covering various sourcing scenarios and pricing strategies.