8.37 For conversion of quantity of gold / silver / platinum in terms of equivalent quantity in terms of fineness, the following formula shall be used:

(i) Where items of gold has been exported in terms of carats, the quantity of gold shall be multiplied by the number of carat of gold exported, divided by 24 and thereafter again divided by 0.995 / 0.999 / 0.900 to arrive at the equivalent quantity of gold in terms of fineness of 0.995 / 0.999 / 0.900 respectively; and

(ii) Wherever the purity of the item of export is expressed in terms of fineness, the quantity of gold / silver / platinum shall be multiplied by the fineness of gold / silver / platinum exported and thereafter divided by 0.995 / 0.999 / 0.900 to arrive at the equivalent quantity of gold / silver / platinum in terms of 0.995 / 0.999 / 0.900 fineness respectively.".