Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Commodities»Centre cuts drawback rates on exports of gold, silver jewellery – commodities News
    Commodities

    Centre cuts drawback rates on exports of gold, silver jewellery – commodities News

    August 24, 20241 Min Read


    The Indian government has significantly reduced the drawback rates on gold and silver jewellery exports in response to recent cuts in import duties on these metals.

    According to a notification from the Department of Revenue, the drawback rate for gold jewelry has been decreased to Rs 335.5 per gram from Rs 704.1 per gram of net gold content. For silver jewelry and silver articles, the rate has been cut to Rs 4,468 per kilogram of net gold content.

    The Duty Drawback Scheme refunds the import duties and internal taxes paid on goods imported for the manufacture of export products. The recent Budget reduced the import duty on gold and silver from 15% to 6%.

    Ajay Sahai, Director General of the Federation of Indian Export Organisations, said, “duty drawback on gold and silver jewellery was reduced as the duty on gold and silver lowered in the budget”.

    Gems and jewelry exports fell by 7.45% to USD 9.1 billion during April-July this fiscal year.

    In the Union Budget, Union Finance Minister Nirmala Sitharaman had announced that customs duties on gold and silver will be reduced to 6% and platinum to 6.4%.





    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Le projet d’usine de GNL de Marinvest Energy serait-il cohérent avec les cibles climatiques du gouvernement du Québec?

    Commodities

    les géants français du metal en tournée dans toute la France… et des places encore disponibles !

    Commodities

    VAALCO mise sur Baobab, malgré sa production marginale

    Commodities

    Haiti – Agriculture : Colombia and Haiti progress in their agricultural cooperation

    Commodities

    le premier parc éolien en Nord-Vienne inauguré

    Commodities

    Stumping Bob Brackett on Commodities

    Commodities
    Leave A Reply Cancel Reply

    Top Picks
    Commodities

    Evilyn – Mondestrunken Review | Angry Metal Guy

    Property

    Canada’s Luxury Real Estate Market Finds Stability

    Stock Market

    Wall Street’s Most Accurate Analysts Spotlight On 3 Defensive Stocks Delivering High-Dividend Yields – Altria Group (NYSE:MO), WK Kellogg (NYSE:KLG)

    Editors Picks

    Vous risquez de ne plus reconnaître Duolingo après cette mise à jour

    May 12, 2025

    Campbell Rooster: 6-foot-tall metal rooster stolen from California Home & Garden found in San Jose

    July 21, 2024

    Next Cryptocurrency to Explode, 28 March — Berachain, Four, MetaGamesCoin, LEO

    March 28, 2025

    Will 2024 Be The Year When Silver Prices Hit $50 An Ounce?

    July 11, 2024
    What's Hot

    Fighting copper wire theft, LA approves $200K to further support LAPD’s Heavy Metal Task Force

    August 7, 2024

    Coming Bond Rally ‘Sequel’ Will Send These 8%+ Dividends Soaring

    July 20, 2024

    Pour la 3eme fois, la SPA revient au Hellfest 2025 pour aider les animaux abandonnés

    June 17, 2025
    Our Picks

    Canadian mutual fund sales highest in 2 years, driven by bond funds

    August 23, 2024

    E-Commodities a racheté un total de 3,2 millions d’actions de Co

    March 26, 2025

    Six banks settle European bond price fixing litigation in New York

    July 26, 2024
    Weekly Top

    Le projet d’usine de GNL de Marinvest Energy serait-il cohérent avec les cibles climatiques du gouvernement du Québec?

    July 9, 2025

    Why China’s jewellery giants are selling less amid a precious metal boom 

    July 9, 2025

    SBP plans pilot for digital currency – Newspaper

    July 9, 2025
    Editor's Pick

    Gold and silver prices today on 13-10-2024: Check latest rates in your city

    October 13, 2024

    Gold Prices Steady Amid Broader Metal Market

    July 7, 2025

    A Burgeoning Movement for the Sustainable-Finance Age

    August 27, 2024
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.