Home India Ministry of Commerce and Industry In exercise of powers conferred under Paragraph 1 03 of the ...
Date: 2019-12-18 Category: Extra Ordinary State: Union Government Country: India

In exercise of powers conferred under Paragraph 1 03 of the Foreign Trade Policy

Issued by Ministry of Commerce and Industry · Department of Commerce

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Executive Summary & Key Takeaways

Executive Summary: This public notice, No. 48/2015-2020, issued on December 18, 2019, amends Para 4.68(a) of the Handbook of Procedures 2015-2020 regarding proof of exports for gold, silver, and platinum jewelry. The amendment replaces the requirement to submit an E.P. copy of the shipping bill with a self-attested copy of the exporter's copy of the shipping bill. This change is effective immediately. Key Points / Main Content: Amendment to Handbook of Procedures: * Para 4.68(a) of the Handbook of Procedures 2015-2020 is amended. Revised Document Requirements for Export Proof: * For exports of gold, silver, and platinum jewelry and articles, exporters must furnish the following documents as proof of export: * Self-attested copy of the exporter's copy of the shipping bill. * Customs-attested tax invoice for export supplies as prescribed under GST rules. * Bank certificate (eBRC) of realization in Appendix 2U. Replacement of Document: * The self-attested copy of the exporter's shipping bill replaces the previously required E.P. copy of the shipping bill. Impact Analysis: Exporters: Impact: Exporters of gold, silver, and platinum jewelry and articles will be affected by the change in documentation requirements for proof of export. Action Required: Exporters must now submit a self-attested copy of their shipping bill instead of the E.P. copy. Ensure compliance with the new documentation requirement for all future exports. Customs Authorities: Impact: Customs authorities are referenced regarding attested tax invoices. Action Required: Continue to provide attested tax invoices for export supplies as prescribed under GST rules. Banking Institutions: Impact: Banking institutions are referenced regarding bank certificates. Action Required: Continue to provide bank certificates (eBRC) of realization in Appendix 2U.

Key Entities Referenced

Foreign Trade Policy 2015-2020: A policy document governing foreign trade, referenced as the basis for amendments. Directorate General of Foreign Trade: The organization responsible for making amendments to the Handbook of Procedures. Handbook of Procedures 2015-2020: A procedural manual being amended by the public notice. New Delhi: Location of publication for the Public Notice. State: Delhi Gold Silver Platinum Jewellery: Specific goods to which the export procedure amendments apply. GST rules: Goods and Services Tax rules Amit Yadav: Director General of Foreign Trade who is issuing this notification. Ministry of Commerce and Industry: The government ministry to which the Directorate General of Foreign Trade belongs.
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