Under para 8.19 to 8.37 of the EXIM Policy read with the various relevant customs exemption notification (Nos. 177/ 94-Cus, 3/ 88- Cus, 277/ 90-Cus, 144/ 93-Cus and Circular No. 38/ 96 dated 9.7.96), MMTC/ SBI/ STC/ HHEC and any agency authorised by Reserve Bank of India (hereinafter referred to as the Nominated Agency) are authorised to import precious metals and supply in
I am directed to refer to the EXIM Policy 1997-2002 and to say that certain doubts have arisen regarding the implementation of the above said Policy. The issues have been examined and the para-wise clarification is as under.
The revised EXIM Policy 1997- 2002 in Para 8.32 provides for re-export / supply of dead stock or broken stones/ rough diamonds up to 5% of the value of import / indigenously procured such items by holders, (who are EOU/ EPZ units) of valid Replenishment / Diamond Imprest Licence. This means the units who had imported these goods against the REP of Diamond Imprest Licence or
