Exports of jewellery - Percentage of processing loss - Notification Nos. 3/88-Cus. and 177/94-Cus. amended - 115/95 - Customs -Tariff

Exports of jewellery - Percentage of processing loss - Notification Nos. 3/88-Cus. and 177/94-Cus. amended Notification No. 115/95-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 notifications of the Government of India in the Ministry of Finance (Department of Revenue), No. 3/88-Customs, dated the 14th January, 1988, and No. 177/94-Customs, dated the 21st October, 1994, namely :- (1) In the Tables of the said notifications, for entry "C" and the entries relating thereto, the following entries shall be substituted, namely :- C Gold mountings and findings used in the plain/studded gold jewellery with value addition as follows :- (a) value addition above 15% and upto 40% : upto 3 per cent of gold content by weight (b) value addition above 40% and upto 50% : upto 5 per cent of the gold content by weight (c) value addition over 50% : upto 8 per cent of the gold content by weight D Plain/studded silver jewellery and articles with value additions of silver contents/wastes as follows :- (a) value addition above 25 per cent and upto 40 per cent: upto 5 per cent of silver content by weight (b) value addition above : upto 7 per cent of silver content by weight (2) In Notification No. 3/88-Customs, dated the 14th January, 1988, after the Table to condition (xiii) the following Explanation shall be inserted, namely :- "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; and (b) the wastage norms for gold jewellery given under the categories A, B and C of the aforesaid Table shall apply mutatis-mutandis, to the export of platinum plain/studded jewellery and articles." (3) in Notification No. 177/94-Customs, dated the 21st October, 1994, after the Table to condition (10), for the `Explanation' the following `Explanation' shall be substituted, namely :- "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; and (b) the wastage norms for gold jewellery given under the categories A, B and C of the aforesaid Table shall apply mutatis-mutandis to the export of platinum/studded jewellery and articles."