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Policy Circular No. 11/2002-2007       Dated: 12.8.2002

To

All Licensing Authorities,

All Commissioners of Customs.

Subject: Clarification on silver jewellery export in terms of Para 4.4.5(b) of the Exim Policy:-

                Attention is invited to Para 4.4.5(b) of the Exim Policy 2002-2007 as amended vide Notification No.11/2002-07, dated 1^st August 2002  in terms of which export of “Silver Jewellery including partly processed jewellery, silver wire, silver strips and any articles including medallions and coins (excluding the coins of the nature of legal tender and any engineering goods) containing more than 50% silver by weight” are eligible for facilities under the Scheme for Gem & Jewellery as contained in Chapter 4 of the Exim Policy.  A suggestion has been received to clarify that the calculation of the quantum of silver should be done excluding the weight of studdings.

2.             The matter has been considered in consultation with the Gems & Jewellery Division, Department of Commerce and Central Board of Excise & Custom, Department of Revenue.  Accordingly, it is clarified that for the purpose of Paragraph 4.4.5(b) of Exim Policy, the calculation of the quantum of silver shall be done excluding the weight of studding.

3.             This issues with the approval of Director General of Foreign Trade.

(P. K. Santra)

Deputy Director General of Foreign Trade