7.2

(a) At the time of export of jewellery, the shipping bill and the invoice presented to the Customs authorities shall contain the description of the items, its weight, purity of gold/ silver/platinum, type of Gem & Jewellery stone (diamond, ruby, sapphire, cubic zircon etc.) used for studding and studding weight in carats, FOB price rate of the jewellery item, quantity in pieces and total value.

(b) SEZ unit may import goods in terms of paragraph 7.2 of the Policy. In case of doubt as to whether the item is required by the unit for its activities or in connection therewith, the decision of the concerned Development Commissioner shall be final.

(c) The import shall be subject to the following conditions:

(i) The goods shall be imported into the premises of the unit.

(ii) The normal procedure as prescribed under Customs/ Excise rules for SEZ will be followed and general bond executed with Customs/Excise authority

(iii) Import of prohibited items in the ITC(HS) shall not be allowed;

(iv) The goods, except capital goods and spares, shall be utilised within the approval period of 5 years.

(v) Goods already imported/shipped/arrived before the issue of Letter of Permission (LOP)/Letter of Indent (LOI) are also eligible for duty free clearance under the SEZ scheme provided customs duty has not been paid and the goods have not been cleared from Customs.

(d) SEZ units obtaining gold/silver/platinum from the nominated agencies on loan basis shall export gold/silver/platinum jewellery within the stipulated period from the date of release. This shall not however apply to the outright purchase of precious metal from the nominated agencies.

(e) The SEZ unit shall be permitted to export the jewellery on the basis of a notional rate certificate to be issued by the nominated agency. This rate will be based on the prevailing Gold/USD rate and the USD/INR rate on the date of the Shipment.

(f) The exporter shall have the flexibility to fix the price and repay the gold loan within 180 days from the date of export. The price shall be communicated to the nominated agencies who will issue a certificate showing the final confirmation of the rate to the bank negotiating the document, to ensure export proceeds are realized at this rate.