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Import, trading & re-export of rough diamonds by notified entities in Bharat Diamond Bourse, Bandra Kurla Cargo Complex, Mumbai

Customs - 17/2015 - Dated:- 26-5-2015 - Circular no. 17/2015 - Customs F. No: 451/13/2015 Cus V Govt. of India Ministry of Finance Dept. of Revenue Central Board of Excise & Customs Dated 26th May 2015, New Delhi To The Chief Commissioner of Customs, Mumbai - III The Commissioners of Customs - II, Airport Special Cargo, Mumbai The Director General of Export Promotion, New Delhi The Director General of Systems & Data Management, New Delhi The Director General of Revenue Intelligence, New .....

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y, DGFT, RBI and with industry, namely, Bharat Diamond Bourse, and GJEPC, the Board has decided to introduce necessary provisions to allow and facilitate viewing/auction/sale of Rough Diamonds at Bharat Diamond Bourse, Mumbai w.e.f 1.7.2015. 2. The Precious Cargo Customs Clearance Centre at Bandra Kurla Complex, Mumbai (or PCCCC for short) is already notified u/s 8 of the Customs Act, 1962 and Bharat Diamond Bourse (BDB for short) is duly notified as a custodian u/s 45 of the Customs Act. BDB ha .....

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pproval under section 8 and in terms of the requirements under Handling of Cargo in Customs Area Regulation, 2009 to the jurisdictional Commissioner of Customs. 3. M/S Bharat Diamond Bourse, in their capacity as a Custodian, appointed under section 45 of the Customs Act, 1962, propose to outsource the handling of rough diamonds, imported for auctions/sales, to a special purpose vehicle, namely, India Diamond Trading Centre, constituted by GJEPC and Bharat Diamond Bourse. For this purpose, BDB sh .....

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riage or express courier service mode will be permitted. 6. The rough diamonds arriving for viewing / auctions / sale by bidding/sale by negotiation will be accompanied by a declaration of value by way of an invoice, packing list, documents of insurance and a Kimberley Process Certificate as provided in Circular no.53/2003-Cus dated 23rd June, 2003. 7. The imported parcels meant for the purpose of viewing/auctions/sales will be initially transhipped from strong room of BDB at Air Cargo Complex a .....

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ong room at the SNZ. 8. The special notified zone will be accessible to traders to visit for viewing the rough diamonds and/or auctions / sale by bidding/sale by negotiation. The GJEPC shall define the eligibility conditions for such visitors, under intimation to the Customs. All persons permitted to visit the SNZ shall be issued with photo identity cards by M/S India Diamond Trading Centre. Suitable security arrangements for controlling access and ensuring against any pilferage, damage or unaut .....

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he sales of rough diamonds from the SNZ shall be of a single or multiple lots but no sale of a sub-lot will be allowed. During the viewing/sale process, mixing of lots of the Rough Diamonds will not be permitted. 11. After the completion of viewing/sales of the rough diamonds at the SNZ, these will be re-packed, lot wise, in the same manner as had been received in the SNZ from the strong room of the BDB at the PCCCC, no later than 60 days from the date of import. The reconstituted parcels shall .....

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