Amendments to Foreign Trade Policy 2015-2020-Amendment in Para 4.44 of the Foreign Trade Policy. - 15/2015-20 - Foreign Trade Policy

MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) (DIRECTORATE GENERAL OF FOREIGN TRADE) NOTIFICATION No. 15/2015-20 New Delhi, the 25th June, 2020 Subject: Amendments to Foreign Trade Policy 2015-2020-Amendment in Para 4.44 of the Foreign Trade Policy. S.O. 2047(E). -In exercise of powers conferred by Section 5 of FT(D R) Act, 1992 , read with Paragraph 1.02 of the Foreign Trade Policy, 2015-20 , as amended from time to time, the Central Government hereby makes following amendments in Foreign Trade Policy 2015-20. Existing Para 4.44 of Foreign Trade Policy 2015-20 4.44 Export of Cut Polished Diamonds with Re-import Facility at Zero Duty An exporter (with annual export turnover of ₹ 5 crores for each of the last three years) or the authorized offices/agencies in India of laboratories mentioned under paragraph 4.74 of Hand Book of Procedures may export cut polished diamonds (each of 0.25 carat or above) to any of the agencies/laboratories mentioned under paragraph 4.74 of Handbook of Procedures with re-import facility at zero duty within 3 months from the date of export . Such facility of re-import at zero duty will be subject to guidelines issued by Central Board of Customs Excise, Department of Revenue. Amended Para 4.44 of Foreign Trade Policy 2015-20 4.44 Export of Cut Polished Diamonds with Re-import Facility at Zero Duty An exporter (with annual export turnover of ₹ 5 crores for each of the last three years) or the authorized offices/agencies in India of laboratories mentioned under paragraph 4.74 of Hand Book of Procedures may export cut polished diamonds (each of 0.25 carat or above) to any of the agencies/laboratories mentioned under paragraph 4.74 of Handbook of Procedures with re-import facility at zero duty within 3 months from the date of export . Such facility of re-import at zero duty will be subject to guidelines issued by Central Board of Customs Excise, Department of Revenue. However, for cases where re-import period is expiring between Feb 1, 2020 to July 31, 2020, the period of re-import shall be considered automatically extended by 3 more months. Effect of the Notification: Para 4.44 , of FTP is amended enhancing the time limit for re-import facility with zero duty from three months to six months for cases where re-import period is expiring between Feb. 1, 2020 to July 31, 2020 in light of COVID19. [F. No. 01/94/180/152/AM20/PC-4] AMIT YADAV, Director General of Foreign Trade Ex-officio Addl. Secy.