Introduction: On the 16th of October 2023, the Directorate General of Foreign Trade (DGFT), under the Ministry of Commerce & Industry, Government of India, issued Policy Circular No. 05/2023-24. This circular provides a crucial clarification concerning the subsequent re-import of unsold jewelry, originally exported under specific provisions of the Handbook of Procedure 2023. It addresses changes in the import policy of specific items under the ITC (HS) Code and their implications on re-importation.
Detailed Analysis
1. Amendment of Import Policy: The circular highlights an important amendment in the import policy of items categorized under ITC (HS) Codes 71131911, 71131919, and 71141910. Previously designated as ‘free,’ these items are now classified as ‘restricted’ following Notification No. 19/2023, issued on July 12, 2023.
2. Trade and Industry Representation: In response to this regulatory change, the DGFT has received representations from trade and industry stakeholders seeking clarification on how this import restriction affects the subsequent re-import of items that were exported under para 4.79 and 4.92 of the Handbook of Procedure 2023.
3. Clarification for Jewelry Re-Import: The Policy Circular No. 05/2023-24 offers a clear directive. It states that the re-import of unsold jewelry, which was initially exported for the purpose of exhibition abroad and falls under ITC (HS) Codes 71131911 and 71131919, will be allowed clearance by Customs Authorities without the need for an import license. However, this clearance should be in accordance with the relevant customs provisions.
4. Significance for the Trade: This clarification provides relief to businesses and trade entities engaged in the export and exhibition of jewelry. The ability to re-import unsold items without an import license simplifies the process and maintains the fluidity of trade operations. It also ensures that businesses can fulfill their international commitments without unnecessary regulatory hurdles.
Conclusion DGFT’s Policy Circular No. 05/2023-24, issued under the Ministry of Commerce & Industry, offers a crucial clarification regarding the re-import of unsold jewelry, initially exported under specific provisions of the Handbook of Procedure 2023. The amendment in the import policy for specific ITC (HS) Codes is duly addressed, ensuring that businesses can continue their trade operations without undue regulatory constraints. This decision underscores the government’s commitment to facilitating trade and commerce while maintaining necessary regulations and oversight. Trade entities can benefit from this clarity and continue their international business activities with confidence. For further details, stakeholders are encouraged to reach out to the DGFT for specific guidance and assistance.
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Government of India
Ministry of Commerce & Industry
Department of Commerce
Directorate General of Foreign Trade
Vanijya Bhawan, New Delhi
Policy Circular No. 05/2023-24-DGFT | Dated: 16-10-2023
To,
1. All Custom Authorities
2. All RAs of DGFT
3. All members of the trade
Subject: Clarification regarding subsequent re-import of unsold jewellery, exported under Para 4.79& 4.92 of Handbook of procedure 2023.
Import policy of items under ITC (HS) Code 71131911, 71131919 and 71141910 has been amended from ‘free’ to ‘restricted’ category vide Notification No. 19/2023 dated 12.07.2023. Subsequently, this Directorate has received representations from trade and industry seeking clarification regarding applicability of above import restriction on subsequent re-import of items exported under para 4.79 & 4.92 of Handbook of procedure 2023.
2. It is clarified that re-import of unsold jewellery exported for the purpose of exhibition abroad in terms of above paras under ITC (HS) codes 71131911 & 71131919 may be allowed clearance by Customs Authorities without import licence in compliance with applicable customs’ provisions.”
This issues with the approval of DGFT.
(Jai pal)
Joint Director General of Foreign Trade
Tel No: 011-23038741
E-mail:[email protected]
(Issued from File No. 01/89/180/36/AM-11/PC-2[A]/E-1678)
