| Date: |
12-08-2002
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| Notification No: |
DGFT Policy Circular No 11/2002
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| Issuing Authority: |
DGFT
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| Type: |
Circular
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| File No: |
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| Subject: |
Clarification on Silver Jewellery Export in terms of Para 4.4.5 (b) of the Exim Policy
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Clarification on Silver Jewellery Export in terms of Para 4.4.5 (b) of
the Exim Policy
Policy
Circular No. 11 dated 12th August 2002
Attention
is invited to Para 4.4.5 (b) of the Exim Policy 2002-2007 as amended vide
Notification No. 11/ 2002-07, dated 1st August 2002, in terms of
which export of �Silver Jewellery including partly processed jewellery, silver
wire, silver strips and any articles including medallions and coins (excluding
the coins of the nature of legal tender and any engineering goods) containing
more than 50% silver by weight� are eligible for facilities under the Scheme
for Gem & Jewellery as contained in Chapter 4 of the Exim Policy. A
suggestion has been received to clarify that the calculation of the quantum of
silver should be done excluding the weight of studding.
2.
The matter has been considered in consultation with the Gems &
Jewellery Division, Department of Commerce and Central Board of Excise &
Custom, Department of Revenue. Accordingly, it is clarified that for the purpose
of Paragraph 4.4.5 (b) of Exim Policy, the calculation of the quantum of silver
shall be done excluding the weight of studding.
3.
This issues with the approval of Director General of Foreign Trade.
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