Customs Exemption Notification for import of aw pearls, natural or cultured, and precious or semi-precious stones under REP licence - 060/2002 - Customs -Tariff

Customs Exemption Notification for import of aw pearls, natural or cultured, and precious or semi-precious stones under REP licence Notification No. 60/2002-Customs, dated 7 th June, 2002 . In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.35/2001-Cus, dated 30-3-2001 [G.S.R. 231(E), dated the 30 th March, 2001], the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts raw pearls, natural or cultured, and precious or semi-precious stones (other than rough diamonds), 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 3 [ under sub-sections (1), (3) and (5) of section 3 ] of the said Customs Tariff Act, subject to the condition that imports are made under a,- (i) Replenishment Licence issued under, and in accordance with, paragraph 4.4.1 of the Foreign Trade Policy; or 1 [(ii) Replenishment Authorisation for Gems issued under, and in accordance with, paragraph 4 [ 4.34 ] of the Foreign Trade Policy; or] 5 [ Explanation . - Foreign Trade Policy means Foreign Trade Policy, 2023 notified by the Government of India, Ministry of Commerce and Industry published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub- section (ii) vide Notification No 1/2023, dated the 31st March, 2023 .] D.S. Garbyal Under Secretary to the Government of India ) F. No. 305/22/2002-FTT ************************** Notes:- Notification No. 60/2002-Cus., dt. 7-6-2002 as amended by Notification No. 87/2004-cus., dt. 6-9-2004 , 106/2009 dated 14/9/2009 1. Substituted vide Not. 33/2015 - Dated 15-5-2015 , before it was read as, (ii) Gem Replenishment Authorization issued under, and in accordance with, paragraph 4A.12 of the Foreign Trade Policy 2. Substituted vide Not. 33/2015 - Dated 15-5-2015 , before it was read as, Explanation. - For the purpose of this notification, 'Foreign Trade Policy' means Foreign Trade Policy, 2009-2014 notified by the Government of India in the Ministry of Commerce and Industry published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub section (ii) vide notification No. 1/2009-2014, dated the 27th August, 2009, as amended from time to time 3. Substituted vide Not. 26/2017 - Dated 29-6-2017 , 1st day of July, 2017 , before it was read as. under section 3 4. Substituted vide Notification No. 28/2023 Customs, dated 01.04.2023 , before it was read as, 4.35 5. Substituted vide Notification No. 28/2023 Customs, dated 01.04.2023 , before it was read as, 2 [Explanation .- For the purpose of this notification, Foreign Trade Policy means Foreign Trade Policy, 2015 - 2020 notified by the Government of India in the Ministry of Commerce and Industry published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub- section (ii) vide notification No. 01/2015-2020, dated the 1 st April, 2015. ]