Export of cut & Polished precious and semi-precious stones for treatment and reimport

4A.20.1

Gems and Jewellery exporters shall be allowed to export cut and polished precious and semi-precious stones for the treatment and re-import as per customs rules and regulations. In case of re-export, the exporter shall be entitled for duty drawback as per rules.

(Above Para 4A.20.1 has been amended vide NTF. NO. 19/2007, DT. 30/07/2007)

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(i) Gems & Jewellery exporters shall be allowed to export cut and polished precious and semi-precious stones for treatment and re-import without payment of Customs duty as per customs rules and regulations and subject to condition that exporter shall declare at the time of shipment:

(a) nature of treatment on cut and polished precious and semi-precious stones ; and

(b) likely change of such stones after treatment.

(ii) Re-importation would be allowed from the same port from where stones were exported for treatment. On re-importation, customs authority shall cross verify the details with the export documents. A maximum time period of 120 days shall be allowed for re-import.

However in case treated precious stones or semi-precious stones are meant for domestic consumption, re-imported consignment shall be allowed by Customs on payment of duty on fair cost of repairs carried out including cost of materials used in repairs, insurance and freight charges, both ways.

(iii) Imported items shall be re-exported.]