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        FEMA

        Foreign Exchange Management (Manner of Receipt & Payments) (Amendment) Regulations, 2003 - 098/2003 - Foreign Exchange Management

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        Payment in precious metals permitted for SEZ and EOU gem and jewellery exports where contract and declaration requirements are met. The Reserve Bank amended the Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2000 to permit receipts in the form of precious metals (gold, silver, platinum) equivalent to the value of jewellery exported by Gem & Jewellery units in Special Economic Zones and Export Oriented Units, provided the sale contract so provides and the value is declared in the relevant GR / SDF / PP forms.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Payment in precious metals permitted for SEZ and EOU gem and jewellery exports where contract and declaration requirements are met.

                                The Reserve Bank amended the Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2000 to permit receipts in the form of precious metals (gold, silver, platinum) equivalent to the value of jewellery exported by Gem & Jewellery units in Special Economic Zones and Export Oriented Units, provided the sale contract so provides and the value is declared in the relevant GR / SDF / PP forms.


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