presentation on gemstone

8/4/2019 Presentation on Gemstone

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International Institute of Foreign Trade and

Research

Submitted By:

Rishi srivastava

Sanjeev kumar

Sandeep nimesh

Mayank raghuvanshi

Sandeep dhaneriya

Submitted To:

Prof. Nidhi bajaj

Subject:- Presentation on Gemstone

International Institute of Foreign Trade

and Research

Submitted By:

Rishi Srivastava

Sanjeev KumarSandeep Nimesh

Mayank Raghuvanshi

Sandeep Dhaneriya

Submitted To:

Prof. Nidhi Bajaj

Subject:-Presentation on


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Diamond is an allotrope of carbon. It is the hardest known natural material. Itshardness and high dispersion of light make it useful for industrial applications and

jewelry.

Diamonds are specifically renowned as a material with superlative physical

qualities.They are commonly judged by the four Cs: carat, clarity, color, and cut.

Aquamarine Lat. aqua marin, "water of the sea" is a gemstone. The biggestaquamarine ever mined was found at the city of Marambaia, Minas Gerais, Brazil, in

1910. It weighed over 110 kg, and its dimensions were 48.5 cm long and 42 cm indiameter.

Aquamarine is the official state gem of Colorado


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Emerald is beryl, green coloured .Beryl has a hardness of 7.5 - 8 on the 10 point.The origin of the word "Emerald" is said to be a Sanskrit word meaning "green".

Pearl is a hard, rounded object produced by certain animals.Pearls can be used injewelry and also crushed in cosmetics or paint formulations. The Pearl of Lao Tzu

also referred to as Pearl of Lao Tze and Pearl of Allah is the largest known pearl in

the world, measuring 9.45 inches in diameter and weighing 6.4 kilograms.


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Ruby is a light pink to blood red gemstone, Its name comes from ruber, Latin for red.It is considered one of the four precious stones, together with the sapphire, the

emerald and the diamond.

Sapphire is the non red variety of the mineral. It can be found naturally ormanufactured in large crystal boules for varied applications, including infrared optical

components, watch faces, high-durability windows, and wafers for the deposition of

semiconductors.
http://en.wikipedia.org/wiki/Image:Cut_Ruby.jpg


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Foreign Trade policy for Gems and Jewellery

Scheme for Gems and Jewellery

Exporters of gems and Jewellery can import / procure duty free inputs for

manufacturing.

Replenishment Authorisation

Exporters may obtain Replenishment (REP) Authorisations from RA.

An application for REP Authorisation may be made inANF 4I

alongwith documents prescribed therein toRA. Application shall be filed within six

months following the month during which the export proceeds are realised. In case

where payment is received in advance and exports take place subsequently,application for REP Authorisation shall be filed within six months following the

month during which exports are made.

Foreign Trade policy for Gems and Jewellery

Scheme for Gems and Jewellery

Exporters of gems and Jewellery can import / procure duty free inputs

for manufacturing.




alongwith documents prescribed therein toRA. Application shall be

filed within six months following the month during which the exportproceeds are realised. In case where payment is received in advance and

exports take place subsequently, application for REP Authorisation shall

be filed within six months following the month during which exports

are made.

Foreign Trade policy for Gems and Jewellery Scheme for Gems and Jewellery

Exporters of gems and Jewellery can import / procure duty free inputs for

manufacturing.




alongwith documents prescribed therein toRA. Application shall be filed within six

months following the month during which the export proceeds are realised. In case

where payment is received in advance and exports take place subsequently,

application for REP Authorisation shall be filed within six months following themonth during which exports are made.


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Nominated Agencies

Nominated agencies are MMTC Ltd, Handicraft and Handloom

Export Corporation (HHEC), State Trading Corporation (STC), the

Project and Equipment Corporation of India Ltd (PEC), Premier

Trading House and any other agency

authorised by RBI.

Value Addition

Under scheme for export of Gem,minimum value addition shall be 4%.

Gem Replenishment Authorisation

Gem REP Authorisations shall be valid for import of precious

stones, semi-precious and synthetic stones and pearls.Gem REP Authorisations issued

against export of gold / silver / platinum jewellery articles, shall also be valid forimport of cut and polished precious / semi-precious stones other than emerald upto

10% of CIF value of Authorisation within its overall CIF value. Gem REP

Authorisations shall be freely transferable.

Nominated Agencies

Nominated agencies are MMTC Ltd, Handicraft and Handloom

Export Corporation (HHEC), State Trading Corporation (STC), the

Project and Equipment Corporation of India Ltd (PEC), Premier

Trading House and any other agency

authorised by RBI.

Value Addition

Under scheme for export of Gem,minimum value addition shall be 4%.

Gem Replenishment Authorisation

Gem REP Authorisations shall be valid for import of precious

stones, semi-precious and synthetic stones and pearls.Gem REP Authorisations issued

against export of gold / silver / platinum jewellery articles, shall also be valid for importof cut and polished precious / semi-precious stones other than emerald upto 10% of CIF

value of Authorisation within its overall CIF value. Gem REP Authorisations shall be

freely transferable.


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Proof of Exports

Exporter has to furnish the proof of exports, by furnishing following documents:

(a) E.P copy of the shipping bill;

(b) Customs attested invoice;

(c) Bank certificate of export.

Export Against Advance Authorisation

An Advance Authorisation may be granted for duty free import of Gemstone. Such

authorisations shall carry an export obligation to be fulfilled.EO will be required to be fulfilled within 120 days from date of

import of each consignment against Authorisation.

No further extension in EO period will be allowed. Advance Authorisation holder may

also import gold as replenishment after completion of exports.

Advance Authorisation holder may obtain gold / silver / platinum

from nominated agencies.

Proof of Exports

Exporter has to furnish the proof of exports, by furnishing following documents:

(a) E.P copy of the shipping bill;

(b) Customs attested invoice;

(c) Bank certificate of export.

Export Against Advance Authorisation

An Advance Authorisation may be granted for duty free import of Gemstone. Such

authorisations shall carry an export obligation to be fulfilled.

EO will be required to be fulfilled within 120 days from date ofimport of each consignment against Authorisation.

No further extension in EO period will be allowed. Advance Authorisation holder

may also import gold as replenishment after completion of exports.

Advance Authorisation holder may obtain gold / silver / platinum

from nominated agencies.


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Diamond Imprest Authorisation

Diamond Imprest Authorisation for import of cut and polished

diamonds including semi processed diamonds, half cut diamonds,

broken in any form, for mixing with cut and polished diamonds orfor export as it is, may be issued for export of cut and polished

diamonds and shall carry an EO.

Application:-

For the scheme, an application in ANF 4J, alongwith prescribed documents therein shallbe submitted toRA concerned.

Export Obligation

EO against each consignment shall be fulfilled within a period of

five months from date of clearance of such consignment through

Customs. However, at no point of time, importer shall be required

to maintain records of individual import consignments towards fulfillment of EO

Diamond Imprest Authorisation

Diamond Imprest Authorisation for import of cut and polished

diamonds including semi processed diamonds, half cut diamonds,

broken in any form, for mixing with cut and polished diamonds or

for export as it is, may be issued for export of cut and polished

diamonds and shall carry an EO.

Application:-

For the scheme, an application in ANF 4J, alongwith prescribed documents therein shall

be submitted toRA concerned.

Export Obligation

EO against each consignment shall be fulfilled within a period of

five months from date of clearance of such consignment through

Customs. However, at no point of time, importer shall be requiredto maintain records of individual import consignments towards fulfillment of EO


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Personal Carriage of Import Parcels

Personal carriage of gems and jewellery import parcels by an Indian importer /foreign

national may be permitted.

Duty free import of samples

Duty free import of gems and jewellery samples upto Rs 3 lakhs

or 0.25% of the average of last three years export turnover of

gems and jewellery items, whichever is lower, shall be allowed.

Private / Public Bonded Warehouse

Private / Public Bonded Warehouses may be set up in SEZ / DTA

for import and re-export of cut & Polished diamonds, cut & polished coloured

gemstones, uncut & unset precious & semiprecious

stones, subject to achievement of minimum VA of 5%.

Personal Carriage of Import Parcels

Personal carriage of gems and jewellery import parcels by an Indian importer /foreign

national may be permitted.

Duty free import of samples

Duty free import of gems and jewellery samples upto Rs 3 lakhs

or 0.25% of the average of last three years export turnover of

gems and jewellery items, whichever is lower, shall be allowed.

Private / Public Bonded Warehouse

Private / Public Bonded Warehouses may be set up in SEZ / DTA

for import and re-export of cut & Polished diamonds, cut & polished coloured

gemstones, uncut & unset precious & semipreciousstones, subject to achievement of minimum VA of 5%.


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Export by Post

In case of exports through Foreign Post Office (including via

Speed Post), value of jewellery parcels shall not exceed US$50000

and 20 kg. by weight. At the time of exports, exporter shall

submit following documents:

(i) Shipping bills or invoice presented at foreign Post Office;

(ii) Certificate from nominated agencies indicating price at which

gold / silver / platinum was booked or given on outright sale

basis or loan basis;

(iii) Three copies of invoice.

Statistics

Total No. of Units in Gems And Jewellery 11136

No. of Units in Organised sector 817

No. of Units in Small Scale sector 10319

Concentrations of Units in India Gems and Jewellery industry isconcentrated in Surat, Bhavnagar,Ahmedabad, Mahesana, Navsari, Palanpurand Valsad in Gujarat and Mumbai in

Maharashtra.

Export by Post

In case of exports through Foreign Post Office (including via

Speed Post), value of jewellery parcels shall not exceed US$50000

and 20 kg. by weight. At the time of exports, exporter shall

submit following documents:

(i) Shipping bills or invoice presented at foreign Post Office;

(ii) Certificate from nominated agencies indicating price at which

gold / silver / platinum was booked or given on outright sale

basis or loan basis;

(iii) Three copies of invoice.

Statistics

Total No. of Units in Gems AndJewellery 11136

No. of Units in Organised sector 817No. of Units in Small Scale sector 10319

Concentrations of Units in

Gems and Jewellery industry isconcentrated in , , Ahmedabad,Mahesana, Navsari, Palanpur andValsad in and Mumbai in .


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Export of cut & Polished precious and semi-precious stones for

treatment and reimport

Gems & Jewellery exporters shall be allowed to export cut and polished precious and

semi-precious stones for treatment and re-import without payment of Customs duty asper customs rules and regulations

Re-importation would be allowed from the same port from where stones were

exported for treatment. On re-importation, customs authority shall cross verify the

details with the export documents. A maximum time period of 120 days shall be

allowed for re-import.However in case treated precious stones or semi-precious stones are meant for

domestic consumption, re-imported consignment shall be allowed by Customs on

payment of duty on fair cost of repairs carried out including cost of materials used in

repairs, insurance and freight charges, both ways.Imported items shall be re-exported.

Export of cut & Polished precious and semi-precious stones for

treatment and reimport

Gems & Jewellery exporters shall be allowed to export cut and polished precious and

semi-precious stones for treatment and re-import without payment of Customs duty as

per customs rules and regulations

Re-importation would be allowed from the same port from where stones were exported

for treatment. On re-importation, customs authority shall cross verify the details with

the export documents. A maximum time period of 120 days shall be allowed for re-

import.

However in case treated precious stones or semi-precious stones are meant for domesticconsumption, re-imported consignment shall be allowed by Customs on payment of

duty on fair cost of repairs carried out including cost of materials used in repairs,

insurance and freight charges, both ways.Imported items shall be re-exported.


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Tarrif item

code

Item descp. Unit Basic Effect ACD CND CESS Total Policy

7104 90 00 Gemstone(diamond,s

apphire,etc)

Kg. 10.00 10.00 4 10 0.84 34.84 Free

ITC (HS) Code:-


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Import procedure

Goods imported in an aircraft /a vessel attract customs duty and customs clearance

formalities of the landed goods have to be followed by the importers.For the goods which are offloaded, the importers have the option to clear the goods for

home consumption after payment of the duties leviable or to clear them for

warehousing without immediate payment of the duties leviable. Every importer is

required to file,an entry (which ias called Bill of entry) for home consumption or

warehousing in the form as prescribed by regulations.

The Bill of entry is to be filed in quadruplicate- original and duplicate are meant for

customs, third copy is for the importer and fourth copy is for the bank for making

remittances. On the body of the bill of entry, the purpose for which it will be used is

generally mentioned.

Under manual procedure, along with the bill of entry the following documents are also

generally required to be filed by the importer or his representative:

Import procedure

Goods imported in an aircraft /a vessel attract customs duty and customs clearance

formalities of the landed goods have to be followed by the importers.

For the goods which are offloaded, the importers have the option to clear the goods for

home consumption after payment of the duties leviable or to clear them for

warehousing without immediate payment of the duties leviable. Every importer is

required to file,an entry (which is called Bill of entry) for home consumption or

warehousing in the form as prescribed by regulations.

The Bill of entry is to be filed in quadruplicate- original and duplicate are meant for

customs, third copy is for the importer and fourth copy is for the bank for making

remittances. On the body of the bill of entry, the purpose for which it will be used is

generally mentioned.

Under manual procedure, along with the bill of entry the following documents are also

generally required to be filed by the importer or his representative:


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Signed invoice

Packing list

Bill of lading or Delivery order/Airway Bill

GATT declaration form duly filled in

License wherever necessaryLetter of credit/Bank Draft/ wherever necessary

Insurance document

Import licence

Industrial licence, if required

Test report in case of chemicalsAdhoc exemption order

DEEC Book/DEPB in original

Catalogue, Technical write up, literature in case of machineries , spares or chemicals

as may be applicable

Certificate of origin, if preferential rate of duty is claimed

No commission declaration.

After noting of the bill of entry, the same is sent to the appraising section for

assessment functions, payment of duty etc

Signed invoice

Packing list

Bill of lading or Delivery order/Airway Bill

GATT declaration form duly filled in

License wherever necessaryLetter of credit/Bank Draft/ wherever necessary

Insurance document

Import licence

Industrial licence, if required

Test report in case of chemicalsAdhoc exemption order

DEEC Book/DEPB in original

Catalogue, Technical write up, literature in case of machineries , spares or chemicals

as may be applicable

Certificate of origin, if preferential rate of duty is claimedNo commission declaration.

After noting of the bill of entry, the same is sent to the appraising section for

assessment functions, payment of duty etc


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ASSESMENT and CLEARANCE:

The document details filed by the importer or his authorized agent are checked and

assessed by custom authority and then the goods are cleared. The following are the

procedures in this connection:

The Bill of Entry submitted by importer is tallied with the import manifest submitted

by the shipper. If any variance is found between the two, further clarification for the

difference are called for customs authorities.

On presenting of Bill of Entry, date of presentation is noted, The Bill of entry is then

send to the appraising department for examination. The examiners carry out physicalexamination of the goods. Package are opened and examined on a test check sample

basis on the basis of which examination report is prepared.

The appraiser classifieds the goods, determines the custom value, rate of duty

applicable and verifies that the imports do not violate any provision of law. TheImporter must pay the amount of duty so determined in cash or by bank draft for

clearance of goods.Once the duty is assessed, the Bill of Entry is returned to the

impoter for payment of duty. Duty must be paid within 7 days after Bill of Entry is

returned, otherwise interest at the rate of 20% p.a is payable. Sometimes, if all

documents are in order and the authorities are concivee that there is no violation of

any law, the assessment may be done without physically examining the goods.

ASSESMENT and CLEARANCE:

The document details filed by the importer or his authorized agent are checked and

assessed by custom authority and then the goods are cleared. The following are the

procedures in this connection:

The Bill of Entry submitted by importer is tallied with the import manifest submitted by

the shipper. If any variance is found between the two, further clarification for the

difference are called for customs authorities.

On presenting of Bill of Entry, date of presentation is noted, The Bill of entry is then

send to the appraising department for examination. The examiners carry out physicalexamination of the goods. Package are opened and examined on a test check sample

basis on the basis of which examination report is prepared.

The appraiser classifieds the goods, determines the custom value, rate of duty

applicable and verifies that the imports do not violate any provision of law. TheImporter must pay the amount of duty so determined in cash or by bank draft for

clearance of goods.Once the duty is assessed, the Bill of Entry is returned to the impoter

for payment of duty. Duty must be paid within 7 days after Bill of Entry is returned,

otherwise interest at the rate of 20% p.a is payable. Sometimes, if all documents are in

order and the authorities are concivee that there is no violation of any law, the

assessment may be done without physically examining the goods.

I C l


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Import Control:

After assessment, the Bill of Entry is sent to the License Section where it is

checked whether the import complies the export-import policy of the Government. If

any license is required for the import, it is verified whether the goods have beenimported against a proper import license. Such import license is givenin duplicate,

one copy for customs purpose and another exchange control copy for clearance of

foreign exchange by bank.

Out of Customs Chart Order:

After all the above formalities are completd, the customs officer will issue out of

customs oreder. Goods can be removed only on receipt of such order.

Import Control:

After assessment, the Bill of Entry is sent to the License Section where it is checked

whether the import complies the export-import policy of the Government. If any license

is required for the import, it is verified whether the goods have been imported against a

proper import license. Such import license is givenin duplicate, one copy for customspurpose and another exchange control copy for clearance of foreign exchange by bank.

Out of Customs Chart Order:

After all the above formalities are completd, the customs officer will issue out ofcustoms oreder. Goods can be removed only on receipt of such order.


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Manufacturers and suppliers fancy beads, designer glass beads, mix glass beads,semi precious stone beads, agate beads, bone beads, wooden beads, metal beads,

dotted glass beads, round glass beads and bumpy glass beads.

Address: 69, Natraj Puram, Kamla Nagar, Agra - 282 005, India

Engaged in Importing semi precious stone necklaces, gemstone bracelets,

precious stone beads necklaces, studded earrings, precious stone studded

necklaces, gemstone bead bracelets, precious stone bracelets and other precious

stone jewelry.

Address: C-49, Vivek Vihar, Phase - I, Delhi - 110 095, India

Manufacturers, impoter and exporters of semi-precious stone beads, handmade

glass beads, bone beads, horn beads, wooden beads, metal casting beads and

leather beads.

Address: RZ-156, Sayed Nangloi, New Delhi - 110 087, India
http://www.psdaimaandsons.com/beads.htmlhttp://www.psdaimaandsons.com/beads.htmlhttp://www.psdaimaandsons.com/beads.htmlhttp://www.psdaimaandsons.com/beads.htmlhttp://www.fashionjewelry-manufacturers.com/semi-precious-stone-necklaces.htmlhttp://www.fashionjewelry-manufacturers.com/semi-precious-stone-necklaces.htmlhttp://www.indiamart.com/maexport/glass-beads.htmlhttp://www.indiamart.com/maexport/glass-beads.htmlhttp://www.indiamart.com/maexport/glass-beads.htmlhttp://www.indiamart.com/maexport/glass-beads.htmlhttp://www.indiamart.com/maexport/glass-beads.htmlhttp://www.indiamart.com/maexport/glass-beads.htmlhttp://www.indiamart.com/maexport/glass-beads.html


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Engaged in importing and exporting of semi precious stone jewellery that includes

fashion stone rings, cut stone earrings, beaded fashion bracelets, fashion metal

cuff, beaded fashion necklaces, stone beaded rings and beaded fashion bangles.Address: D 159, Shastri Nagar, Behind Medical College, Jodhpur - 342 003, India

Impoter and exporters of all kinds of beads like stone beads, gemstone beads,

diamond beads, precious stone beads, semi precious stone beads, emerald stonebeads, ruby stone beads, sun stone beads and other beads.

Address: Tulip bldg., 5th Flr, Flat # 12, 3rd Pasta lane, Colaba, Mumbai - 400 005,

India

Manufacturing and supplying precious and semi precious stone jewellery, precious

silver jewellery, semi precious silver jewellery including studded silver earrings,

studded silver rings, studded silver necklaces, semi precious bracelets and

pendants.

Address: Behind Jewels Emporium, Near Panch Batti, M.I. Road, Jaipur - 302 001,

India
http://www.indiamart.com/silverorganisationhttp://www.indiamart.com/silverorganisationhttp://www.indiamart.com/diajewelshttp://www.indiamart.com/diajewelshttp://www.indiamart.com/diajewelshttp://www.indiamart.com/mainternational


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Manufacturer, expoter and impoter of semi precious stones, semi precious

decorative stones, semi precious hard stones, semi precious stone table tops, semi

precious stone tiles, semi precious sodalite stone tiles, semi precious lapis lazulistone tiles etc.

Address: 364, "Shiv Kripa" Sector #9 Road, Savina, Udaipur - 313 002, India

Manufacturer, impoter and exporter of semi-precious stones, precious stones, stonejewelry, semi-precious stone jewely, fashion jewelry, precious stone jewelry and

diamond studded jewelry. Also offers gold jewelry and silver jewelry.

Address: Old # 41/2, New # 86, Samy Pandaram Street, Chintadripet, Chennai - 600

002, India

Manufacturer, impoter and exporter of semi precious stone jewellery like precious

chokers, precious stone necklaces, beaded bracelets, coloured stone earrings and

gemstone anklets and variety of designer stone jewellery.

Address: A- I-22 Ansal's Colony, Shastri Nagar, Meerut - 250 005, India
http://www.indiamart.com/allgemjewelry/http://www.indiamart.com/skehttp://www.indiamart.com/skehttp://www.indiamart.com/skehttp://www.indiamart.com/skehttp://www.tilohandicrafts.com/decorative-semiprecious-stones.htmlhttp://www.tilohandicrafts.com/decorative-semiprecious-stones.htmlhttp://www.tilohandicrafts.com/decorative-semiprecious-stones.html


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Exporters of semi-precious stone such as agate,green aventurine,rose quartz,tiger

eyes etc.

Address: No.388, South Hubin Road, Xiamen - 821 124, China

Exporters of semi precious stones.Address: 90, Coventry Street, Kidderminster - DY10 2BH, United Kingdom

Offering diamonds precious semi precious stones.

Address: 10/W. 46th Street 8th Floor, New York - 10036, United States of America

Exporters of all kinds of brazilian rough stones, gifts, mica etc.

Address: P. O. Box 24065, Maracana, Rio De Janeiro - 2011010, Brazil


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Bibliography:- FTP 2004-2009

HBP 2004-2009

www.wikipedia.comwww.indiamart.com

Class notes

presentation on gemstone

Documents