image

Amendment in Paragraph 4.34(i) of Chapter 4 of the Foreign Trade Policy (FTP) 2015-2020

MINISTRY OF COMMERCE & INDUSTRY

(Department of Commerce)

(DIRECTORATE GENERAL OF FOREIGN TRADE)

NOTIFICATION

New Delhi, the 23rd February, 2017

No. 40 /2015-2020

 

Subject: Amendment in Paragraph 4.34(i) of Chapter 4 of the Foreign Trade Policy (FTP) 2015-2020.

S.O. 619(E).—In exercise of powers conferred by Section 5 of FT (D&R) Act, 1992, read with paragraph 1.02 of the Foreign Trade Policy, 2015-2020, as amended from time to time, the Central Government hereby makes following amendments in Para 4.34 (i) of Chapter 4 of Foreign Trade Policy 2015-20.

2. Paragraph 4.34 (i) of FTP 2015-20 is amended to read as under: Exporter of gold / silver / platinum jewellery and articles thereof including mountings and findings may obtain gold / silver / platinum as an input for export product from Nominated Agency, in advance or as replenishment after export in accordance with the procedure specified in this behalf. In case where CENVAT credit facility on Precious metal (Gold, Silver and Platinum) as input has been availed and Gems and Jewellery products are exported availing rebate, then replenishment of Precious metal shall be allowed provided that such inputs procured duty free are used in the manufacture of dutiable goods in the factory/unit, where exported Gems and Jewellery products were manufactured. Sale/transfer of such duty free Precious metal inputs shall not be allowed.

3. Effect of Notification: Paragraph 4.34(i) of FTP 2015-20 related to replenishment of Precious metals is amended.

[F. No. 01/94/180/12/AM17/PC-4]

AJAY KUMAR BHALLA, Director General of Foreign Trade

profile image

About eMinds Legal

eMinds Legal

eMinds Legal is a Corporate Law Firm based in Gurgaon, India specializing in Corporate Legal, Corporate Secretarial and Compliance. The Firm comprises of a team of Corporate Lawyers and Company Secretaries with in-depth subject matter knowledge and participative industry experience of over 15 years.

Corporate Law Referencer

MasterClass

Recent Articles

Recent Legal updates

Recent Gst Updates