Imports for export of jewellery - Notification No. 277/90-Cus. amended - 116/95 - Customs -Tariff

Imports for export of jewellery - Notification No. 277/90-Cus. amended Notification No. 116/95-Cus. Dated 8-6-1995 In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 277/90-Customs, dated the 12th of December, 1990, namely :- In the said notification (1) condition (v) shall be deleted; (2) after condition (xii), the following proviso shall be inserted, namely :- "Provided that scrap, dust or sweepings of gold arising in the manufacturing process may be forwarded to the Government Mint by the importer for conversion into standard gold bars and return to the said undertaking in accordance with the procedure specified by the Commissioner of Customs in this regard;" (3) for the condition (xiv), the following condition shall be substituted, namely :- "(xiv) The Assistant Commissioner of Customs may allow, subject to fulfilment of conditions specified in this notification, the loss of percentage of gold or silver specified in column (2) of the Table given below during the manufacture of jewellery of description specified in the corresponding entry in column (1) of the said Table. TABLE Description of jewellery Percentage of gold/ silver wastages (1) (2) A. Plain gold jewellery articles unstudded with minimum value addition of 10% or more (on gold content plus wastage) 2% of gold content in jewellery by weight B. Studded gold jewellery and articles with value addition (on gold content plus wastage) as follows : (i) value addition of 15% and above upto 25% Upto 3% (ii) value addition above 25% and upto 40% Upto 5% (iii) value addition above 40% and upto 50% Upto 7% (iv) value addition over 50% Upto 10% C. Gold mountings and findings used in the plain studded gold jewellery with value addition as follows : (i) value addition above 15% and upto 40% Upto 3% of gold content by weight (ii) value addition above 40% and upto 50% Upto 5% of gold content by weight (iii) value addition over 50% Upto 8% of gold content by weight D. Plain/Studded silver jewellery and articles with value addition (on silver content plus wasteage) as follows :- (i) value addition above 25% and upto 40% Upto 5% of silver content by weight (ii) value addition above 40% Upto 7% of silver content by weight Explanation. - (a) The wastage for mountings and findings is admissible only when such mountings and findings are manufactured from imported gold and are exported as such. (b) The wastage norms for gold jewellery given under categories A, B and C of the Table shall apply mutatis mutandis to the export of platinum plain/studded jewellery and articles. (4) Under the heading "Description of goods" serial No. 11 and the entry relating thereto, the following entry shall be substituted, namely :- "11. Office equipments, spares and consumables thereof."