The Ministry of Finance has exempted gems and jewellery taken for display at exhibitions abroad from Integrated GST. Till now, gem and jewellery taken out of India for exhibition or consignment purpose was considered as reimport when bought back into the country and IGST was levied. The Gem and Jewellery Export Promotion Council and the industry made several representations to correct this anomaly. Yielding to their demand, the Ministry of Finance announced no IGST will be levied on gem and jewellery taken out of the country for exhibition purpose.
[“source=thehindubusinessline”]