9911796707
TMI BlogDuty exemption for raw pearls, natural or cultured, rough diamonds and other precious or semi-precious stones, unset and uncut.X X X X Extracts X X X X X X X X Extracts X X X X ..... . 35 /2001-Customs 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. 27/2001-Customs, dated the 5th March, 2001 (GSR 163(E), dated the 5th March, 2001) except as respects things done or omitted to be done before such s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... raph 8.37 of the Export and Import Policy; (iii) Gem Replenishment Licence issued under, and in accordance with, paragraph 8.38 of the Export and Import Policy; (iv) Replenishment Licence issued under, and in accordance with, paragraph 8.74 of the Handbook of Procedures; (v) Diamond Imprest Licence issued under, and in accordance with, paragraph 8.3 of the Export and Import Policy; (vi) Bulk L ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ly with the conditions stipulated in the relevant provisions thereof; (ii) to pay on demand, in case of failure to achieve any part of export obligation, an amount equal to the duty leviable on the value of the said rough diamonds but for the exemption contained herein which can be attributed to export obligation not fulfilled alongwith interest at the rate of 24% per annum on the said duty from ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... with the conditions stipulated in the relevant provisions thereof; (ii) to pay on demand, the duty on the said rough diamonds as are not properly accounted for by him alongwith interest at the rate of 24% per annum on the said duty from the date of importation of the said rough diamonds till the date of payment of such duty. Explanation I.- for the purposes of item (ii) of condition (b), the va ..... X X X X Extracts X X X X X X X X Extracts X X X X
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