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DGFT amended para 4.59 of HBP 2023 and modified SION M-1 to M-8 for jewelry exports, revising wastage norms and input-output ratios for precious metals. Key changes include differentiated wastage allowances between handcrafted (higher) and mechanized (lower) manufacturing - with handcrafted plain jewelry allowing 2.25% for gold/platinum and 3% for silver, while mechanized processes permit 0.9% across metals. For studded jewelry, handcrafted items get 4% wastage versus 2.8% for mechanized production. Religious idols receive special consideration with 4% wastage for handcrafted/studded and 2% for plain versions. These revisions supersede Public Notice No. 30 dated 01.11.2024.
DGFT amended para 4.59 of HBP 2023 and modified SION M-1 to M-8 for jewelry exports, revising wastage norms and input-output ratios for precious metals. Key changes include differentiated wastage allowances between handcrafted (higher) and mechanized (lower) manufacturing - with handcrafted plain jewelry allowing 2.25% for gold/platinum and 3% for silver, while mechanized processes permit 0.9% across metals. For studded jewelry, handcrafted items get 4% wastage versus 2.8% for mechanized production. Religious idols receive special consideration with 4% wastage for handcrafted/studded and 2% for plain versions. These revisions supersede Public Notice No. 30 dated 01.11.2024.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
