4.58

The Gem REP Licences shall be valid for import of precious stones, semi-precious and synthetic stones and pearls. In addition, the licence shall also be valid for import of empty jewellery boxes upto 5% of the value of the licence within its overall CIF value. The Gem REP licences issued against export of studded gold/silver/ platinum jewellery articles, shall also be valid for import of cut and polished precious/semi-precious stones other than emerald upto 10% of the CIF value of the licence within its overall CIF value.