The Ministry of Commerce & Industry has issued a significant clarification regarding the re-import of unsold jewellery exported for exhibitions, under specific conditions outlined in the Handbook of Procedure, 2023. This announcement follows recent amendments to the import policy concerning certain jewellery items.
According to Policy Circular No. 05/2024-25 issued by the Directorate General of Foreign Trade (DGFT), Department of Commerce, Ministry of Commerce & Industry, dated 13th June 2024, addressed to Customs Authorities, RAs of DGFT, and members of the Trade & Industry, certain jewellery items categorized under ITC (HS) Codes 71131912, 71131913, 71131914, 71131915, and 71131960 have been reclassified from the “Free” to “Restricted” category. This change was officially notified through Notification no. 17/2024-25 dated 11th June 2024.
The DGFT has clarified that Customs authorities will permit the re-import of unsold jewellery exported for exhibitions under these ITC (HS) codes without necessitating import licenses. However, this allowance is subject to full compliance with all relevant Customs provisions.
This clarification aims to streamline procedures and provide clear guidance to stakeholders involved in the import and export of jewellery items under the amended policy framework.
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