Direct Receipt of Import Bills / Documents for Import of Rough Precious & Semi-Precious Stones - Liberalisation

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....ention of Authorised Dealer Category -I (AD Category - I) banks is invited to A.P.(DIR Series) Circular No.66 dated February 6, 2004, in terms of which AD Category-I banks are permitted to make remittances for imports, where the import bills / documents have been received directly by the importer from the overseas supplier and the value of import bill does not exceed USD 100,000. Further, in terms....

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....rt of rough precious and semi-precious stones. . 3. It has, therefore, been decided, as a sector specific measure, to enhance the limit for direct receipt of import bills / documents from USD 100,000 to USD 300,000 in the case of import of rough precious and semi-precious stones by non-status holder exporters. Accordingly, AD Category - I banks may allow remittance for imports up to USD 300,000 wh....