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GJEPC seeks govt clarification on export-related hallmarking exemption
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SME Times News Bureau | 25 May, 2021
With mandatory gold hallmarking set to be implemented in
India from June 1, the GJEPC in a representation to Consumers Affairs
Minister Piyush Goyal seeking clarity on certain issues pertaining to
exports under the hallmarking provisions.
While the hallmarking
order excludes exporters, the GJEPC has called on the authorities to
"explicitly clarify that jewellers having transactions only in the
export stream are completely excluded from the purview of the
hallmarking Order".
GJEPC Chairman Colin Shah pointed out
operational challenges brought on by the fact that all exporters
maintain common inventory for both export and domestic streams.
Shah
noted that the storing of fully manufactured specified gold articles
should not require compliance with the hallmarking provisions, except
prior to domestic sale.
K. Srinivasan, Convener, Gold Panel,
GJEPC explained: "As Indian hallmarked articles do not have acceptance
outside India, any legal interpretation that requires an exporter to
comply with the hallmarking provisions wholly or partially, will
increase the transaction costs in the export stream, making gem and
jewellery exports unviable."
Srinivasan also pointed out that
purchases made by foreign buyers at domestic exhibitions like IIJS are
tantamount to export sales and should therefore be outside the purview
of the hallmarking order.
Srinivasan requested a clarificatory
amendment on hallmarking exemption to manufacturers/wholesalers
supplying articles to exporters.
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