Amends the notifications issued under Gems & Jewellery scheme

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....rade Policy' means Foreign Trade Policy, 2009 - 2014 notified by the Government of India in the Ministry of Commerce and Industry published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub section (ii) vide notification No. 1/2009-2014, dated the 27^th August, 2009, as amended from time to time."; (ii) for clause (c), the following clause shall be substituted, namely "(c) "Nominated agencies" means,- (1) Metals and Minerals Trading Corporation Limited (MMTC); (2) Handicraft and Handloom Export Corporation (HHEC); (3) State Trading Corporation (STC); (4) Project and Equipment Corporation of India Ltd. (PEC); (5) STCL Ltd; (6) MSTC Ltd; (7) Diamond India Limited (DIL); (8) Gems & Jewellery Export Promotion Council (G&J EPC); (9) a Star Trading House (only for Gems and Jewellery sector) or a Premier Trading House under paragraph 3.10.2 of Foreign Trade Policy; and (10) any other agency authorised by Reserve Bank of India (RBI).". 2. 41/99-Customs, dated 28^th April, 1999 [G.S.R. 289 (E), dated the 28^th April, 1999] In the said notification, for the words, letters and figures "Handbook of Procedures Volume-I, the 1st Septembe....

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....e to time."; (ii)for clause (b), the following clause shall be substituted, namely :- "(b) 'Handbook of Procedures (Volume-I)' means Handbook of Procedures (Volume-I) notified by the Government of India in the Ministry of Commerce and Industry published in the Gazette of India, Extraordinary, Part-I, Section-1 vide Public Notice No. 1/2009-2014, dated the 27th August, 2009, as amended from time to time,"; (iii) in clause (d), for the words and figures "paragraph 3.5.2 of the Foreign Trade Policy", the words and figures "paragraph 3.10.2 of Foreign Trade Policy" shall be substituted. 5. 57/2000-Customs dated the 8^th May, 2000, G.S.R. 413 (E), dated the 8^th May, 2000 In the said notification,- (1) in clause (a) of opening paragraph, for the words, letter and figures "paragraph 4A.15", the words, letter and figures "paragraph 4A.14" shall be substituted; (2) after the second proviso, the following proviso shall be inserted, namely,- "Provided also that the nominated agencies (except for those authorized by RBI) shall follow the procedure and fulfill the conditions as specified in the Policy circular No. 77 (RE-2008)/2004-09 dated 31^st March,.2009 as amend....

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....s dated the 31^st March,2003 [G.S.R. 274 (E), dated the 31^st March, 2003] In the said notification,- (1) in the opening paragraph, in condition (6),- (a) in clause (iv), for the letters and figures "US $ 1,00,000/-", the letters, figures and words " US $ 1 million" shall be substituted.; (b) in clause (v), the following proviso shall be inserted, namely:- "Provided that in case of exhibition in USA, the time period for re-importing the jewellery shall be ninety days;"; (c) in clause (ix), for the letters, figures and words "No. 80/97-Customs, dated the 21^st October 1997", the following letters, figures and words "No. 62/2004-Customs dated 12^th May 2004" shall be substituted; (2) in paragraph (3), for the words, brackets, letters and figures "or cleared to the holders of certificate from Apparel Export Promotion Council and Council for Leather Export for duty free import as referred to in clause (e) of the paragraph 6.9 of the Foreign Trade Policy, without payment of duty:", the following words, letters, figures and brackets "or cleared to organizations which are entitled for duty free import of such goods in terms of the following exemption notifications- ....

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....e specified by the Board of Approval in this behalf; and (d) the goods imported and articles manufactured by the unit shall be listed out separately in the export documents:"; (b) for the proviso, the following proviso shall be substituted, namely:- "Provided that the export value of such spares, components, promotional material and goods imported for consolidation shall not be taken into consideration for fulfillment of Net Foreign Exchange Earnings (NFE) and for availing Domestic Sale Entitlement as specified in paragraph 6.8 of the Foreign Trade Policy. The goods imported for consolidation shall not be allowed to be sold in Domestic Tariff Area."; (5) in the Explanation occurring after paragraph 13,- (a) for the clause (iii), the following clause shall be substituted, namely:- "(iii) 'Foreign Trade Policy' means Foreign Trade Policy, 2009 - 2014 notified by the Government of India in the Ministry of Commerce and Industry published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub section (ii) vide notification No. 1/2009-2014, dated the 27th August, 2009, as amended from time to time."; (b) for clause (vi), the following clause shall be substit....