Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: VAT Audit :: form 3cd :: ACCOUNTING STANDARD :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: list of goods taxed at 4% :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: VAT RATES :: TDS :: ACCOUNTING STANDARDS :: cpt :: TAX RATES - GOODS TAXABLE @ 4%
 
 
« Latest Circulars »
 Investment under PIS in M/s Eris Lifesciences Ltd. By FII/FPI Investment limit from 24 to 49 per cent and increase in NRI limit from 10 to 24 per cent
  Auction for Sale (Re-issue) of Government of India Floating Rate Bonds 2024
 Auction of Government of India Dated Securities August 21, 2017
 RBI to conduct 7 day Variable rate Reverse Repo auctions under LAF on August 21, 2017
 Resolution of Stressed Assets: Towards the Endgame (Urjit R. Patel, Governor - August 19, 2017 - Inaugural Session of the “National Conference on Insolvency and Bankruptcy: Changing Paradigm”, Mumbai)
 Eligible Credit Rating Agencies- Rating of Fixed Deposits by Infomerics Valuation and Rating Private Limited (IVRPL)
  Appointment of nominated counsel in the Hon’ble High Court of Delhi at New Delhi- Compliance of the Order dated 21.07.2017
 RBI-Core Banking Solution (CBS) Requirements for Urban Co-operative Banks (UCBs)
 RBI-Interest Subvention Scheme for Short Term Crop Loans during the year 2017-18
 Appointment of nominated counsel in the Hon’ble High Court of Delhi at New Delhi- Compliance of the Order dated 21.07.2017
 RBI releases Data on India’s International Trade in Services: June 2017

RBI-Re-export of unsold rough diamonds from Special Notified Zone of Customs without Export Declaration Form (EDF) formality
July, 02nd 2015

RBI/2015-16/110
A.P. (DIR Series) Circular No.1

July 02, 2015

To
All Authorised Dealers in Foreign Exchange

Re-export of unsold rough diamonds from Special Notified Zone of
Customs without Export Declaration Form (EDF) formality

Attention of the Authorised Dealers is invited to i) Regulation 3 of the Notification No. FEMA 23/2000-RB dated May 3, 2000 viz. Foreign Exchange Management (Export of Goods and Services) Regulations, 2000, as amended from time to time, in terms of which every exporter of goods/ software, to any place outside India, other than Nepal and Bhutan, is required to submit declaration in EDF /SOFTEX; ii) sub-regulation (g) of Regulation 4 of the Notification ibid, in terms of which exemption from furnishing declaration has been provided for export of goods imported free of cost on re-export basis; and iii) Government of India Circular No. 17/2015- Customs, i.e., F. No: 451/13/2015 Cus V dated May 26, 2015 (ANNEX), stipulating guidelines on manner of operation of the Special Notified Zone (SNZ) to enable and permit the trading of rough diamonds in India by the diamond mining companies as permitted in terms of A.P.(DIR Series) Circular No. 116 of April 01, 2014.

2. In order to facilitate re-export of unsold rough diamonds imported on free of cost basis at SNZ, it is clarified that the unsold rough diamonds, when re-exported from the SNZ (being an area within the Customs) without entering the Domestic Tariff Area (DTA), do not require any EDF formality.

3. Entry of consignment containing different lots of rough diamonds into the SNZ should be accompanied by a declaration of notional value by way of an invoice and a packing list indicating the free cost nature of the consignment. Under no circumstance, entry of such rough diamonds is permitted into DTA.

4. For the lot/ lots cleared at the Precious Cargo Customs Clearance Centre, Mumbai, Bill of Entry shall be filed by the buyer. AD bank may permit such import payments after being satisfied with the bona-fides of the transaction. Further, AD bank shall also maintain a record of such transactions.

5. Authorised Dealers may bring the contents of this circular to the notice of their constituents concerned.

6. The directions contained in this circular have been issued under Section 10(4) and Section 11(1) of the FEMA, 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law.

Yours faithfully,

(A. K. Pandey)
Chief General Manager

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Mission

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions