AIDC Exemption, a master stroke!
Exemption on gold/Silver bars and doré for exporters Import for domestic use will attract AIDC AIDC exemption to boost jewellery exports: GJEPC The Finance Ministry has issued a notification dated 17th February 2021, of the amendments made to the finance bill 2021 with regards to the Agriculture Infrastructure and Development Cess (AIDC) exemption on gold/Silver bars and doré for exporters. However, it maintains that the gold/silver bars and doré imported for domestic use will attract AIDC. In the Finance Bill, 2021, Agriculture Infrastructure and Development Cess (AIDC) of 2.5% was levied on import of Gold/Silver Bars and Dore. Colin Shah, Chairman, GJEPC said, “Exemption of AIDC on Gold/Silver Bars and Dore is a master stroke by Govt. which would have positive implications on the growth of the gem and jewellery export sector. This has come as a much relief to our exporting community. This charge of cess made the jewellery exports unviable and uneconomical, as the ce