The Directorate General of Foreign Trade ( DGFT ) has issued Public Notice No. 16/2024-25 dated 29th July 2024 amended the public notice no. 06/2024 modifying the wastage permissible and Standard Input Output Norms ( SIONs ) for gold, platinum, and silver content in export items, has been kept in abeyance until 31.08.2024.
After receiving additional inputs from the GJEPC, the DGFT has decided to extend the abeyance period for another month. As per the new directive, the modifications proposed in Public Notice No. 05/2024 will remain on hold until 31.08.2024.
During this interim period, the wastage norms and SIONs specified under Para 4.59 of the Handbook of Procedures 2023, and SIONs M1 to M7, as they existed prior to the issuance of Public Notice No. 05/2024, will be reinstated.
For exporters dealing in gold, platinum, and silver, this means that the previous norms will continue to apply until the end of August 2024. The DGFT is currently examining the matter further, taking into account the feedback from the GJEPC. Exporters are advised to adhere to the reinstated norms and stay informed about any further updates from the DGFT.
The Public Notice 6/2024 states as follows: “Whereas Public Notice No. 05/2024 dated 27.05.2024 had been issued to modify the wastage permissible and Standard Input Output Norms with reference to Gold/Platinum/Silver content in export item. Industry consultations on the subject had been held on 05.03.2024 and 21.03.2024. Now keeping in view the representation of the Gem & Jewellery Export Promotion Council highlighting the ensuing difficulties to their sector and MSME & handmade jewellery manufacturers, another opportunity to industry for submission of further corroborative data on manufacturing workflow and justification for process wastage and recovery at different stages is being provided. GJEPC/industry may provide information/data to the concerned Norms Committee within a period of next one month.
Accordingly DGFT in exercise of powers conferred under Paragraph 1.03 and 2.04 of the Foreign Trade Policy 2023 as amended from time to time hereby places the Public Notice No. 05/2024 dated 27.05.2024 in abeyance up to 31st of July, 2024, with immediate effect. For the interim period, wastage norms under Para 4.59 of Handbook of Procedures 2023 and SIONs M1 to M7 as existed prior to issuance of the said Public Notice No. 05/2024 dated 27.05.2024 stand restored.”
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