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Regarding Exemption for customs duty on cut and polished diamonds imported by specified agencies in FTP

Customs - 40/2015 - Dated:- 21-7-2015 - [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 40/2015-Customs New Delhi, the 21st July, 2015 G.S.R 568 (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 cut an .....

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ons, namely: Table S.No. Name of laboratory/agency 1. Gemological Institute of America (GIA), Mumbai, Maharashtra, India 2. Indian Diamond Institute, Surat, Gujarat, India 3. International Institute of Diamond Grading & Research India Pvt. Ltd., Surat, Gujarat, India 1[4. HRD Diamond Institute Private Limited, Mumbai, Maharashtra. ] (i) the said laboratories and agencies shall furnish a general bond to the satisfaction of the Assistant Commissioner/Deputy Commissioner of Customs at the port .....

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ntry should carry the endorsement only for certification and grading ; (iv) the said laboratories and agencies while taking the diamonds in their unit, shall allot a unique control number for identification purposes and maintain a separate account for such diamonds; (v) after gradingor certification, the diamonds shall be re-exported under a shipping bill containing the detailed description as was mentioned at the time of their import; (vi) cross reference of bill of entry shall be endorsed in t .....

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