2. POLICY The Policy relating to Replenishment (REP) Licence,
Diamond Imprest Licence, Bulk Licence and Schemes for gold/
silver/platinum jewellery is given in chapter 8 of the Policy. 3.
REPLENISHMENT LICENCE The application shall be filed within six
months following the month/quarter during which the export proceeds
are realised. For export proceeds realised during the
month/quarter, consolidated application for entire month/quarter
shall be filed. However, if any supplementary application is to be
filed, it may be accepted with a cut of 10% on entitlement. REP
licences will be transferable. 4. GEMS & JEWELLERY EXPORT
PROMOTION SCHEMES Exporter of gems & jewellery can
import/procure duty free inputs required for manufacture of gems
& jewellery items. Exporter of gems & jewellery are
eligible to import their inputs duty free by obtaining
Replenishment (REP) Authorisations from the regional authorities in
accordance with the procedure specified in this regard in the
Handbook of Procedures (Vol.1) 5. The exporter of gems &
jewellery products listed in Appendix-12A of the Handbook of
procedures (Vol.1) shall be eligible for grant of Replenishment
Authorisations at the rate & for the items mentioned in the
said Appendix to import & replenish their inputs. Replenishment
authorisation may also be issued for import of consumbles as per
the details given in paragraph 4A.28 of Handbook of procedures
(Vol.1). 6. Exporters of gold/silver/platinum jewellery &
articles thereof may import their essential inputs such as gold,
silver, platinum, mounting, findings, rough gems, precious &
semi-precious stones, synthetic stones & unprocessed pearls
etc. in accordance with the procedure specified in this behalf. 7.
EXPORT OBLIGATION The Diamond Imprest Licence shall carry an export
obligation fixed in the inverse ratio of 65% of replenishment, i.e,
if the licence is issued for a cif value of US$65, the fob value of
export obligation shall be US$100. At the time of redemption, the
actual entitlement of the licencee shall be recalculated with
reference to the replenishment rates admissible for the
corresponding export products as given in Appendix-30A. Diamond
Imprest Licence for import of rough diamonds or the materials
imported against this shall be freely transferable after the export
obligation has been fulfilled.
