IBJA's Budget Proposal for F.Y. 2025-26

10-01-2025 03:00 PM

1.Reduction in import duty from 6% to 3%

2. Special benefit of 0.5% duty for importing thru India International Bullion exchange ( IIBX)

3. Establishing "GST Bonded warehouse" where duty is paid but GST is not paid. This will be on lines of Custom bonded warehouse.

4. Creation of Electronic Gold receipt (EGR) thru "GST Bonded warehouse". This will enable trading on EGR on exchanges.

5. Allowing all import of gold only thru IIBX.

6. Allowing bullion export thru IIBX.

7. Setting up jewellery export centre at gift city for domestic traders.

8. Mandatory Hallmarking for gold and silver across India for jewellery .

9. Stopping import duty benefits from Least developed countries (LDC) and Free trade Area (FTA) countries as this distort market.

10. Gradually moving to 100% bullion trade thru commodity exchange only.

11. Removing capital gain tax on Gold and jewellery sales to boost Gold monetisation and reducing import.

12. Allowing Lending and Borrowing of bullion thru commodity exchange.

13. Single Regulator Gems and Jewellery Sector

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