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Foreign Trade Procedures 2008-2009 - Directorate General of ...

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Diamond & Jewellery 4A.33 Policy for Diamond and Jewellery Dollar Accounts is given inDollar Accountsparagraph 4A.19 <strong>of</strong> FTP. Detailed procedure for its operationwill be notified separately.Import <strong>of</strong> precious 4A.34 Policy for Import <strong>of</strong> precious metal scrap/used jewellery for meltingmetal scrap/usedand re-export <strong>of</strong> jewellery is given in paragraph 4A.21 <strong>of</strong> FTP.jewellery for meltingProcedure is laid as under:and re-export <strong>of</strong> jewelleryImported precious metal scrap / used jewellery shall be allowedto be cleared by Customs subject to the condition:a) that importer files a bond along with Bank Guarantee fora sum equivalent to one and half times customs dutyleviable on said used jewellery/precious metal scrap;b) importer fulfils the export obligation and value addition asnotified by Central Government;c) such import will not be allowed through Hand Baggage.Detailed procedure including value addition requirementand export obligation etc. for operationalisation <strong>of</strong> thefacility under this paragraph shall be notified separatelyby DGFT.Export <strong>of</strong> Diamond, 4A.35 Policy for export <strong>of</strong> diamond, gemstone and jewellery onGemstone & Jewelleryconsignment basis is given in paragraph 4A.23 <strong>of</strong> FTP.on consignment basisDetailed procedure in this regard shall be governed as per therelevant Customs Rules & Regulations. Re-import <strong>of</strong> these items(either in complete or partial lot) exported on consignment basisshall be subject to condition that exporter follows prescribedprovisions <strong>of</strong> relevant customs notification to establish that goodsare the same which were exported.91

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