CBIC: Changes to Customs Notification on Revised Drawback Rates for Jewellery:

CBIC: Changes to Customs Notification on Revised Drawback Rates for Jewellery On April 17, 2025, the Central Board of Indirect Taxes and Customs (CBIC) issued Notification No. 26/2025 – Customs (N.T.), which updated an earlier customs notification (No. 77/2023) from October 20, 2023. This update changes the duty drawback rates for gold and silver jewellery. For gold jewellery (tariff item 711301), the rate has increased from Rs. 335.50 to Rs. 405.40 per gram of net gold content. For silver jewellery and related articles (tariff items 711302 and 711401), the rate has gone up from Rs. 4468.10 to Rs. 4950.03 per kilogram of net silver content. These changes are part of the rules under the Customs and Central Excise Duties Drawback Rules, 2017. Using the powers granted by Section 75 of the Customs Act, 1962, and Section 37(2) of the Central Excise Act, 1944, along with the Customs and Central Excise Duties Drawback Rules, 2017, the Central Government has made further changes to the customs notification No. 77/2023. This notice, which was initially issued on October 20, 2023, has been changed as part of ongoing updates by the Ministry of Finance (Department of Revenue). The new amendments are aimed at updating certain provisions under the customs law. In the updated notification, the following changes have been made in Chapter 71 of the schedule: For tariff item 711301 (gold jewellery), the rate has been increased from Rs. 335.50 to Rs. 405.40 per gram of net gold content. For tariff item 711302 (silver jewellery), the rate has been raised from Rs. 4468.10 to Rs. 4950.03 per kg of net silver content. Similarly, for tariff item 711401 (silver articles), the rate has also been increased from Rs. 4468.10 to Rs. 4950.03 per kg of net silver content.