 |
OFFICE OF THE
COMMISSIONER OF CUSTOMS, |
PUBLIC
NOTICE NO. 124 /2001
Government of India, Ministry of
Finance, Department of Revenue, New Delhi, Notification No.27/2001-Customs vide
F.No.B-5/1/2001-TRU dated 05.03.2001, is reproduced below for the guidance of
the importers, clearing agents and trading staff.
C16/12/2001-AP (PORT)
(S. SANKARAVADIVELU)
CUSTOM HOUSE, CHENNAI-1.
DY. COMMR. OF CUSTOMS (APPG)
DATE :29.06.2001
Notification No. 27/ 2001-Customs
F.No.B-5/1/2001-TRU dated 05.03.2001
G.S.R.
(E).- In exercise of the powers conferred by sub-section (1) of section 25 of
the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied
that it is necessary in the public interest so to do, hereby exempts rough
diamonds and other precious or semi-precious stones, unset and uncut, falling
under Chapter 71 of the First Schedule to the Customs Tariff Act, 1975 (51 of
1975), when imported into India, from the whole of the duty of customs leviable
thereon under the said First Schedule and the additional duty, if any, leviable
thereon under section 3 of the said Customs Tariff Act, subject to the
following conditions, namely:-
(a) the imports are made under a
,-
i.
Replenishment Licence issued under and in accordance with
paragraph 8.2 of the Export and Import Policy read with paragraph 8.3 of the
Handbook of Procedures, Vol. I;
ii.
Diamond Imprest Licence issued under and in accordance with
paragraph 8.3 of the Export and Import Policy read with paragraphs 8.11 and
8.12 of the Handbook of Procedures, Vol. I;
iii.
Bulk Licence issued under and in accordance with paragraph
8.10 of the Export and Import Policy read with paragraphs 8.21 to 8.25 of the
Handbook of Procedures, Vol. I;
iv.
Replenishemnt licence issued under and in accordance with
paragraph 8.37 of the Export and Import Policy read with paragraphs 8.82 to
8.84 [A] of the Handbook of Procedures, Vol. I; or
v.
Gem Replenishment Licence issued under and in accordance
with paragraph 8.38 of the Export and Import Policy ;
(b) in
case of rough diamonds imported under S.Nos. (ii) or (iii) of para (a) above,
the importer executes a bond in such form and for such sum as may be specified
by the Deputy Commissioner of Customs or Assistant Commissioner of Customs, as
the case may be, and furnishes a bank guarantee for a sum equivalent to the
duty leviable on the said rough diamonds so imported, undertaking himself to
achieve the export obligation as stipulated in the Export and Import Policy and
Handbook of Procedures, Vol. I and binding himself to pay on demand duty on the
said rough diamonds along with the interest thereon at the rate of twenty-four
per cent. per annum on the said duty from the date of the duty free importation
till the date of payment of duty, in the case of non-fulfilment of export
obligation or any other conditions as stipulated in the Export and Import
Policy or Handbook of Procedures, Vol. I; and
(c) the
importer shall maintain a proper account of import, consumption and utilization
of the said goods and exports made by him, as the case may be, and shall submit
such account to the said Deputy Commissioner or Assistant Commissioner of
Customs, as the case may be, in such form, in such manner, at such intervals
and within such time, as may be specified by the Commissioner of Customs in
this regard.
2. This
notification shall be in force upto and inclusive of the 31st day of March,
2001.
Explanation.- For the
purposes of this notification,-
a.
"Export and Import Policy" means the Export and
Import Policy, 1997-2002, notified by Government of India in the Ministry of
Commerce, vide notification No. 1 (RE-99)/1997-2002 dated the 31st March, 1997,
as amended from time to time
b.
"Handbook of Procedures, Vol. I" means the
Handbook of Procedures, Volume I, published vide Public Notice of the
Government of India in the Ministry of Commerce, No. 1 (RE-2000)/ 1997-2002,
dated the 31st March, 2000, as amended from time to time.
|
|
