Diamond GEm & Jewellery Export Promotion Scheme - Amendments regarding

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..... ndewalan Gem & Jewellery Complex, 277/90-Cus, dated the 12th December, 1990, governing stand-alone 100% Gem & Jewellery EOUs & 177/94-Cus, dated the 21st October, 1994, governing Gem & Jewellery units in the seven Export Processing Zones. These notifications have been amended vide Notification Number 40/99-Customs, dated the 28th April, 1999 (copy enclosed). The salient features of the amendments are as under :- i) Import of Old Jewellery : It has been provided that the Gem & Jewellery units can now import old plain gold / silver or platinum jewellery for repair or remaking for export. The jeweller might have been exported from India, by the unit or any other unit or might have been made in any other country. However, in case the unit .....

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..... the gold / silver contents at the rates specified in Notification No. 80/97-Cus, dated the 21st October, 1997. Samples of the sweepings / dust may be taken at the time of clearance and sent to mint for assaying. The assessment may be finalised when the reports are received from the mint. v) Effective rate for Assessment : The import of gold / silver made under the above said notifications by the units for manufacture of Gem & Jewellery for exports may be assessed at the effective rate of customs duty as specified in Notification No. 80/97-Cus dated the 21st October, 1997 instead of assessment at the tariff rate applicable to gold & silver. The value of bonds may be calculated accordingly. However, in case of clandestine removal, evasion .....

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..... tlement (5%) with a certificate of total exports either from the DGFT or Zone / Jurisdictional AC. Accounts may be kept of grade and quantity of cut & polished precious stones imported so as to ensure its accounting at the time of exports. There would be no entitlement in case only plain jewellery has been exported. For Zone / EOU, no separate Bond shall be necessary. 4. The above amendments may be carefully studied alongwith the revised provision of the EXIM Policy & the HOP and the difficulties, if any, in implementing the same may kindly be intimated to Board expeditiously. Suitable instructions may be issued within 15 days of receipt of this Circular. Sd/- (K.M. Ravichandran) Sr. Technical Officer (FTT)
Circular, Trade Notice, .....

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