|
|
 |
 |
 |
|
 |
| |
|
|
| |
| Procedure in general |
According to this procedure export of gold jewelry shall be allowed by air, parcel post, courier services and by sea, as accompanied or unaccompanied baggage. Export of gold jewelry shall be against advance payment irrevocable letter of credit firm order or contract, delivery on payment or delivery on acceptance (DP/DA), or consignment sale, as well as on self-consignment basis through authorized representative. Export of gold jewelry shall be made according to the usual Form “E” procedure of the State Bank of Pakistan. The sale proceeds of gold jewelry and gemstones exported under any provision of Export and Import procedure of Gold, Gold Jewelry and Gemstones Order, 2001, shall be
appropriated
either wholly in foreign exchange through normal banking channels or partly in the form of gold up to one hundred per cent weight of gold content of jewelry exported including wastage, and gemstones, and partly in foreign exchange for value addition. Clearance of Customs authorities shall be required for export and import of gold jewelry and gemstones, for this purpose following procedure shall be adopted: |
| |
 |
The exporter or his authorized representative shall produce the parcels or boxes
containing gold jewelry or gemstones along with export documents to the Customs Authorities for weighment and examination under strict security and privacy |
| |
|
|
The export documents shall clearly indicate the type of gold jewelry, whether plain or
studded or embedded, and purity and karatage of gold used in making the gold jewelry |
| |
|
|
The Customs Authorities shall verify the weight of gold as per exporter’s declaration, and shall asses the minimum value addition according to following criteria: |
| |
|
| i. |
In weighment of gold, variation of 1% shall be allowed between
weight declared by the exporter and assessed by the Customs Authorities |
| |
|
| ii. |
Export of gold jewelry shall be allowed with minimum value addition as follows: |
| |
|
| |
a. 4% on plain gold bangles and chains
b. 6% on other plain jewelry
c. 9% on studded or embedded jewelry |
| |
|
|
For gold jewelry studded or embedded with gemstones, the value of gemstones shall
be shown separately in the export documents including Form E, clearly indicating therein the kind, value and weight of gemstones of each article |
|
| |
| Wastage of Gold |
| Gold wastage or manufacturing loss in the production of gold jewelry shall be allowed to the exporters as exporters. |
| |
| Description of Jewelry Percentage of Wastage |
|
Plain gold jewelry 2% of gold content of jewelry by weight |
|
Studded or embedded gold jewelry 10% of gold content of jewelry by weight |
|
| |
| Value Addition |
| Export of gold jewelry shall be allowed with minimum value addition as provided in clause (c) of para 8, given below: |
| |
|
4% on gold bangles and chains |
|
6% on other plain jewelry |
|
9% on studded or embedded jewelry |
|
| |
| Related Documents |
| 1. |
Entrustment Scheme Export of Jewelry |
 |
46 KB |
Download |
|
| |
|
| |
|
|
 |
 |
 |
|
|
|
| |
|
|
|
