Huge relief for exporters as govt exempts exhibition jewellery from 3% IGST

About 25% of the country's annual gems and jewellery exports which come back unsold would benefit from this IGST exemption

In a major relief for jewellery exporters, the government has exempted gems and jewellery shipped for display in overseas exhibitions and trade shows, from three per cent Integrated Goods and Services Tax (IGST).

About 25 per cent of India’s annual gems and jewellery exports, which come back unsold and are declared as 'return consignment', would benefit from this IGST exemption. India’s annual gems and jewellery exports are estimated at about $35 billion with return consignment worth $7-8 billion.

“This is a trade-friendly step which will boost promotional activities globally. The move will definitely provide respite to our member exporters,” Pramod Kumar Agrawal,