DGFT Revises Export Obligation Period for Jewellery and Precious Metal Imports
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Summary
The Directorate General of Foreign Trade (DGFT) issued a Public Notice to amend Para 4.84(b) of the Handbook of Procedures (HBP) 2023. This amendment aligns the HBP with Para 4.36(a) of the Foreign Trade Policy (FTP) 2023.
As per the new rule, exporters must complete their Export Obligation within 120 days from the date of import for each consignment under Advance Authorisation. For imports of gold, platinum, or silver used in findings, mountings, and jewellery exports, the Export Obligation period is 180 days from the import date. No further extension will be allowed. The amendment also enables Advance Authorisation holders to import gold as replenishment after completing exports.
This update ensures uniformity between the Handbook and the FTP, promoting smooth trade operations and timely export compliance. The change supports exporters in managing their obligations more efficiently while maintaining transparency and alignment in foreign trade procedures.
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