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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>DGFT Circular: Gem & Jewellery Units in EOUs/SEZs Can Convert Precious Metal Loans to Purchases Within 90 Days.</h1> The circular from the Directorate General of Foreign Trade clarifies that Gem & Jewellery Units in Export Oriented Units (EOU) and Special Economic Zones (SEZ) can convert loans of precious metals like gold, silver, and platinum taken from nominated agencies into outright purchases. This conversion is permissible within the stipulated export period of 90 days from the date of release (60 days before March 31, 2005). The conversion is subject to interest payment until the conversion date and must comply with the EOU/SEZ policies regarding the utilization of precious metals and jewelry export.
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