Foreign Trade Policy 2005
4. Serv ice Exports
- To enable the Service providers to upgrade the infrastructure in their associate companies, the goods imported under the Served from India Scheme shall be transferable within the Group companies and managed hotels subject to Actual User condition.
- At present, Hotels & Restaurants are required to submit a Chartered Accountant certificate that the entire duty benefits availed under the Served from India Scheme have been passed on to the consumer. From now on, only a declaration will be submitted by the Hotels & Restaurants that the duty benefits shall be passed on to the consumer and no CA certificate will be required to be submitted.
5. Agri Exports
- Benefits under Vishesh Krishi Upaj Yojana shall also be extended to exports of poultry and dairy products in addition to export of flowers, fruits, vegetables, minor forest produce and their value added products.
- Procedural guidelines for the Scheme have also been notified and the exporter has been given the flexibility to obtain duty credit certificates in split form that will make utilization of the licences easier.
6. Gem and Jewellery Exports
- Entitlement for Duty Free imports of Gems and Jewellery samples have been enhanced to Rs. 3 lakhs in a financial year or 0.25% of the average of the last three years exports turnover or gems and jewellery items, whichever is lower. Earlier this limit was Rs. 1 lakh.
- Supply of gold of 0.995 and above purity shall also be allowed for release by nominated agencies for export purposes. Earlier this facility was only available for supply of gold in the domestic market.
- The notional rate for fixing the US $ rate for calculating gold jewellery exports shall now be based on a certificate which is not older than 7 working days from the date of shipping. The present provisions mandated that the notional rate certificate issued by the nominated agency should not be older than 3 working days.
- Exporters of plain/studded/precious metal jewellery will be allowed to import plain/studded/precious metal jewellery (Gold jewellery of 18 carat and below/platinum and sterling silver jewellery ) for the purposes of exports.