Duty free import conditions for gem and jewellery: procedural, guarantee and accounting requirements securing export linked exemptions. Clarifies revised EXIM Policy/HOP provisions for duty free import and export of gem and jewellery, permitting personal carriage via specified airports with appraisal facilities, extending advance import/import of semi finished jewellery to status holders and nominated agencies subject to value addition and wastage norms, requiring exporters to furnish bank guarantees enforceable on default and mandating monitoring by Customs, revising wastage and NFEP norms for studded items and medallions, authorising limited DTA sale of unsuitable/broken stones on payment of higher duties, expanding consumables import under replenishment licences, and adding consignment wise accounting obligations.
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Duty free import conditions for gem and jewellery: procedural, guarantee and accounting requirements securing export linked exemptions.
Clarifies revised EXIM Policy/HOP provisions for duty free import and export of gem and jewellery, permitting personal carriage via specified airports with appraisal facilities, extending advance import/import of semi finished jewellery to status holders and nominated agencies subject to value addition and wastage norms, requiring exporters to furnish bank guarantees enforceable on default and mandating monitoring by Customs, revising wastage and NFEP norms for studded items and medallions, authorising limited DTA sale of unsuitable/broken stones on payment of higher duties, expanding consumables import under replenishment licences, and adding consignment wise accounting obligations.
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