DGFT amends the Foreign Trade Policy 2015-20

Nov 13, 2018 | by Avantis RegTech Legal Research Team


The Directorate General of Foreign Trade (DGFT), on November 05, 2018, has modified Para 4.32(i) of Chapter 4 and in Para 6.01(a) of Chapter 6 of the Foreign Trade Policy (FTP) 2015-20.

The amendments in the Foreign Trade Policy 2015-20 are as under:

·         Existing Para 4.32(i) of Chapter 4 which specifies Duty Exemption / Remission Schemes of FTP 2015-20:

 “Gold jewellery, including partly processed jewellery and articles including medallions and coins (excluding legal tender coins), whether plain or studded, containing gold of 8 carats and above up to a maximum limit of 22 carats.”

The amended Para 4.32(i) of FTP 2015-20:

“Gold jewellery, including partly processed jewellery and articles including medallions and coins (excluding legal tender coins), whether plain or studded, containing gold of 8 carats and above up to a maximum limit of 22 carats.

The Findings like posts, push backs, locks, which help in collating the jewellery pieces together, containing gold of 3 carats and above upto a maximum limit of 22 carats.

·         Existing Para 6.01(a) of Chapter 6 which describes Export Oriented Units (EOUS), Electronics Hardware Technology Parks (EHTPS), Software Technology Parks (STPS) and Bio-Technology Parks (BTPS) of FTP 2015-20:

An EOU / EHTP / STP / BTP unit may export all kinds of goods and services except items that are prohibited in ITC (HS). However export of gold jewellery, including partly processed jewellery, whether plain or studded, and articles, containing gold of 8 carats and above upto a maximum limit of 22 carats only shall be permitted.

The amended Para 6.01(a) of FTP 2015-20:

An EOU / EHTP / STP / BTP unit may export all kinds of goods and services except items that are prohibited in ITC (HS). However export of gold jewellery, including partly processed jewellery, whether plain or studded, and articles, containing gold of 8 carats and above upto a maximum limit of 22 carats only shall be permitted.

The exports of Findings like posts, push backs, locks, which help in collating the jewellery pieces together, containing gold of 3 carats and above upto a maximum limit of 22 carats shall be allowed.”

Effect of the Notification: Para 4.32(i) and Para 6.01(a) of FTP 2015-20 are amended to allow export of findings like posts, push backs, locks, which help in collating the jewellery pieces together, containing gold of 3 carats and above upto a maximum limit of 22 carats only from domestic tariff area and EOU/EHTP/STP/BTP Units.

[Notification No. 43/2015-2020]

 

URL: http://dgft.gov.in/sites/default/files/Notification%2043%20of%202015-20%20English.pdf


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