India Revises Duty Drawback Rates for Precious Metals: What Exporters Need to Know (February 2026)
India Revises Duty Drawback Rates for Precious Metals: What Exporters Need to Know (February 2026) Published: February 16, 2026 | Ministry of Finance, Department of Revenue The Government of India has issued a significant customs notification that will directly impact exporters dealing in gold, silver, and precious metal jewellery. Notification No. 21/2026-Customs (N.T.), published in The Gazette of India (Extraordinary) on February 16, 2026 , announces revised duty drawback rates under Chapter 71 of the All Industry Rates Schedule — and the changes are substantial. What Is Duty Drawback? Before diving into the specifics, it helps to understand what duty drawback means for exporters. Under Section 75 of the Customs Act, 1962, and Section 37(2) of the Central Excise Act, 1944, the Central Government allows exporters to claim a refund — known as a drawback — on customs and excise duties paid on inputs used in the production of exported goods. This mechanism is critical for ...