Revised Duty Drawback Rates

Ref.No.: GJEPC/Duty Drawback /2023-24 21st Oct 2023

To,

ALL MEMBERS OF THE COUNCIL

Subject: Revision of All Industry Rates of Duty Drawback for Gold & Silver

Dear Sirs, The Government of India had revised the duty drawback rates vide Notification No.77/2023- Customs dated 20th Oct 2023. These rates have been revised after a long span of 3 years. The Council has done numerous representation and meetings with various Government officials for revision of duty drawback rates. Due to persistent efforts of the Council, Customs Vide Notification No.77/2023- Customs dated 20th Oct 2023 revised the duty drawback rates which will provide exporters with the opportunity to reduce the costs and will be competitive in the international market. The new duty drawback rates for the same are as Follows, which shall be effective from 30th October 2023. ITC HS Code Description of Goods Existing Duty Drawback Rates Revised Duty Drawback Rates 711301 Articles of Jewellery and parts thereof, made of gold.

₹ 431.1 per gram of net gold content (.995 or more purity) in the jewellery

₹ 704.1 per gram of net gold content (.995 or more purity) in the jewellery

711302 Articles of jewellery and parts thereof, made of silver.

₹ 4105.6 per kg of net silver content (.999 purity) in the jewellery

₹ 8949 per kg of net silver content (.999 purity) in the jewellery

711401 Articles made of silver.

ver.

₹ 4105.6 per kg of net silver content (.999 purity) in the jewellery

₹ 8949 per kg of net silver content (.999 purity) in the jewellery

711401 Articles made of silver.

₹ 4105.6 per kg of net silver content (.999 purity) in the jewellery

₹ 8949 per kg of net silver content (.999 purity) in the jewellery

Members can download the Circular from our website www.gjepc.org.

Thanking you, With best regards, Sd/- SABYASACHI RAY EXECUTIVE DIRECTOR

ENCL: Click to download the Customs Notification Notification No.77/2023 dated 20th Oct 2023 https://gjepc.org/download/csnt77-2023_DutyDrawback_Rates.pdf