TMI BlogExemption to cut and polished diamonds and Gem Stones, as the case may be, when imported into India by the holders of Diamond Imprest LicencesX X X X Extracts X X X X X X X X Extracts X X X X ..... r 71 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) hereinafter referred to as the said Act, upto five per cent of the Free on Board (FOB) value of the preceding financial year of the exports of cut and polished diamonds or studded Jewellery, as the case may be, when imported into India by the holders of 1 [ Replenishment Authorisation for Gems referred to in Paragraph 4 [ 4.34 ] of the Foreign Trade Policy ], as the case may be, from the whole of the duty of customs leviable thereon under the First Schedule to the said Act and from the whole of the additional duty and special additional duty, if any, leviable thereon 3 [ under sub-sections (1), (3) and (5) of section 3] and section 3A respectively of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 023, dated the 31st March, 2023 . ] 8 [ (ii) (ii) Handbook of Procedures means Handbook of Procedures, 2023 notified by the Government of India, Ministry of Commerce and Industry, published in the Gazette of India, Extraordinary, Part- I, Section-I vide Public Notice No 1/2023, dated the 1st April, 2023 ] (iii) cut and polished diamonds shall include semi-processed diamonds, halfcut diamonds and broken diamonds in any form. ***************** Notes:- As amended by Notification Nos. 64/2002 dated 24-6-2002 and 87/2004 dated 6.9.2004, 106/2009 dated 14/9/2009 1. Substituted vide Not. 33/2015 - Dated 15-5-2015 , before it was read as, Diamond Imprest Licences issued under para 4.4.16 read with para 4.4.16 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... i) 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 . 8. Substituted vide Notification No. 28/2023 Customs, dated 01.04.2023 , before it was read as, (ii) Handbook of Procedures means Handbook of Procedures notified by the Government of India in the Ministry of Commerce and Industry published in the Gazette of India, Extraordinary, Part-I, Section 1 vide Public Notice No. 01/2015-2020, dated the 1 st April, 2015. ] - Notification Tax Management India - taxmanagementindia - ta ..... X X X X Extracts X X X X X X X X Extracts X X X X
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