Section 46(2) in The Special Economic Zones Rules, 2006
(2)The procedure for export of gems and jewelery shall be as under:-(i)the shipping bill and the invoice alongwith packing list presented to the authorized officer shall contain the following:-(a)description of the items;(b)weight and purity of gold or silver or platinum and the type of gems stone, such as, diamond, ruby, sapphire, cubic zircon and the like which has been used for studding and its weight in carats; and(c)free on board price rate of the jewelery item and quantity in pieces and the total value;(ii)the Unit may export jewelery on the basis of a notional rate certificate issued by the Nominated Agency and this rate will be based on the prevailing Gold or US Dollar rate and the US Dollar or Indian Rupees rate given in the notional rate certificate:Provided that the certificate issued by the Nominated Agency shall not precede the date of shipment by more than three working days or as may be notified by Central Government;(iii)the Unit obtaining gold or silver or platinum from the Nominated Agency on loan basis shall export gold or silver or platinum jewelery within the period prescribed for the same under the Foreign Trade Policy:Provided that the Unit can convert such loan into outright purchase by paying the outstanding loan amount plus interest provided they exercise this option within the period prescribed under the Foreign Trade Policy;(iv)in the case of export of jewelery on the basis of notional rate certificate issued by the Nominated Agency, the Unit may fix the price and repay the gold loan within the prescribed period for export as may be notified by the Central Government from time to time:Provided that the price shall be communicated to the Nominated Agency for issue of a certificate showing the final confirmation of the rate to the bank negotiating the document.
