Amendment in Para 4.44 of Chapter 4 of the Foreign Trade Policy (FTP) 2015-20 - 39/2015-2020 - Foreign Trade Policy

Government of India Ministry of Commerce Industry Department of Commerce Directorate General of Foreign Trade Udyog Bhawan Notification No. 39/2015-2020 New Delhi, dated the 22 th February, 2017 Subject: Amendment in Para 4.44 of Chapter 4 of the Foreign Trade Policy (FTP) 2015-20 In exercise of powers conferred by Section 5 of FT (D R) Act, 1992 , read with paragraph 1.02 of the Foreign Trade Policy, 2015-2020 , as amended from time to time, the Central Government hereby makes following amendments in para 4.44 of Chapter 4 of Foreign Trade Policy 2015-20. 1. The existing Para 4.44 of FTP 2015-20 reads as under: 4.44 Export of Cut Polished Diamonds with Re-import Facility at Zero Duty An exporter (with annual export turnover of ₹ 5 crores for each of the last three years) may export cut polished diamonds (each of 0.25 carat or above) to any of the agencies/laboratories mentioned under paragraph 4.74 of Handbook of Procedures with re-import facility at zero duty within 3 months from the date of export. Such facility of reimport at zero duty will be subject to guidelines issued by Central Board of Customs Excise, Department of Revenue . 2. The amended Para 4.44 of FTP 2015-20 is to be read as under: 4.44 Export of Cut Polished Diamonds with Re-import Facility at Zero Duty An exporter (with annual export turnover of ₹ 5 crores for each of the last three years) or the authorised offices/agencies in India of laboratories mentioned under paragraph 4.74 of Handbook of Procedures may export cut polished diamonds (each of 0.25 carat or above) to any of the agencies/laboratories mentioned under paragraph 4.74 of Handbook of Procedures 2015-20 with re-import facility at zero duty within 3 months from the date of export. Such facility of export and subsequent reimport at zero duty will be subject to guidelines issued by Central Board of Customs Excise, Department of Revenue . 3. Effect of Notification: The facility for export and re-import of cut and polished diamonds at zero duty for the purpose of certification and grading has been extended to the authorised offices/agencies in India of laboratories mentioned under paragraph 4.74 of Handbook of Procedures 2015-20. (Ajay Kumar Bhalla) Director General of Foreign Trade Email: [email protected] (Issued from F.No. 01/94/180/52/AM16/PC-4)