The Directorate General of Foreign Trade (DGFT) on May 27, 2024, notified regarding the amendment in 4.59 of Handbook of Procedures, 2023, and modification in Standard Input Output Norms (SION) M-1 to M-7 for export of jewellery.
The following has been stated namely: -
• Amendment in Para 4.59 (a) to (h) of Handbook of Procedures, 2023 - Percentage of wastage by weight concerning items of export such as:
o Plain jewellery, articles, and ornaments like Mangalsutra containing gold and black beads/imitation stones, cubic zirconia diamonds, and precious, semi-precious stones.
o Studded jewellery and articles.
o Mountings and findings manufactured (by non-mechanized process) indigenously.
o Any jewellery/ articles manufactured by a fully mechanized process and unstudded.
o Mountings, indigenously manufactured, used in studded jewellery.
o Gold/ Silver/ Platinum medallions and coins.
o Findings and mountings manufactured by mechanized process.
o Gold religious idols of 8 carats and above.
• Amendments in SION M-1 TO M-7 for export and import items such as Gold, Platinum, and Silver.
• It is stated that the weight of mountings and findings of gold or silver if imported and used in the export product, shall not be included in determining net contents of gold and silver in the export product.
[Notice no. - 05/2024]
