Wastage Norms and Value for Gold Idols Prescribed

[DGFT Public Notice No. 51/2015-2020 dated 30 November, 2018]

Effect of this Public Notice: Wastage Norms and Value Addition in respect of Gold religious idols (only gods and goddess) - both plain and studded, of 8 carats and above (upto 24 carats) are prescribed in Para 4.60 and 4.61 of the HBP.

Subject: Wastage Norms and Value Addition in respect of Gold religious idols (only gods and goddess) of 8 carats and above (upto 24 carats) under Para 4.60 and 4.61 of HBP 2015-20.

In exercise of powers conferred under paragraph 1.03 of the Foreign Trade Policy, 2015-2020, as amended from time to time, the Director General of Foreign Trade makes the following amendment in Hand Book of Procedures 2015-2020.

2. In Para 4.60 Wastage Norm, the following are added at the end of the table:

Gold religious idols (only gods and goddess) of 8 carats and above (upto 24 carats)

Percentage of wastage

Plain Gold idols 2.5%

Studded Gold idols-5%

3. In Para 4.61 Value Addition, the following are added at the end of the table:

Gold religious idols (only gods and goddess) of 8 carats and above (upto 24 carats)

10% in case of plain gold religious idols (Non studded)

14% in case of gold religious idols studded with colour gem stones,

15% in case of gold religious idols studded with diamonds

(Issued from File No. 01/94/180/236/AM19/PC-4)