NTF. NO. 23(RE-01), DT. 01/08/2001
- Document type
- Circular
- Reference no.
- E
- Dated
Amendments in EPCG and Diamond REP Policy
Amendments in EPCG and Diamond REP Policy
In exercise of the powers conferred by section 5 of the Foreign Trade (Development and Regulation) Act, 1992 (No. 22 of 1992) read with paragraph 1.3 of the Export and Import Policy, 1997-2002 (incorporating amendments made upto 31.03.2001), the Central Government hereby makes following amendments in the Export and Import Policy, 1997-2002 (incorporating amendments made upto 31.03.2001).
- Paragraph 6.2 is corrected as under:
" Capital Goods (CG), including jigs, fixtures, dies, moulds and spares may be imported at 5% Customs duty subject to an Export Obligation equivalent to 5 times the CIF value of capital goods on FOB basis or 4 times the CIF value of capital goods on NFE basis to be fulfilled over a period of 8 years reckoned from the date of issuance of the licence. However imports of spares under this scheme would be restricted to 20% of the CIF value of the licence.
For calculation of NFE, the provision of paragraph 12.6 of the Policy shall apply." - The last sentence of paragraph 8.37 is corrected as under:
" Such REP licences are valid for import of items as given in Handbook (Vol 1)." - S.Nos (x) and (xi) of the Gem and Jewellery sector under Appendix 1 is corrected as under:
Name of the Sector Minimum NFEP Minimum EP for five years Diamond (x) Cut and polished diamonds (with per carat realization of more than US $ 260 FOB and upto US $ 400 FOB) 20% US $ 1 million or 3 times the CIF value of imported capital goods, whichever is higher. (xi) Cut and polished diamonds (with per carat realization upto US $ 260 FOB) 25% US $ 1 million or 3 times the CIF value of imported capital goods, whichever is higher.
(N.L. Lakhanpal)
Director General of Foreign Trade and ex officio
Additional Secretary to the Government of India