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

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... under Chapter 71 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) , when imported (for grading or certification and re-export out of India)by the laboratories and agencies (hereinafter referred to as the said laboratories and agencies)notified in the Foreign Trade Policy and mentioned in the Table below, from the whole of the duty of customs leviable thereon which is 2 [specified in the First Schedule and from the whole of integrated tax leviable under sub-section (7) of section 3 of the Customs Tariff Act,1975 ], subject to fulfillment of the following conditions, namely: Table S.No. Name of laboratory/agency 1. Gemological Institu .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ngor 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 the shipping bill; (vii) the said laboratories and agencies shall submit alongwith the shipping bill, a certificate to the effect that the diamonds being re-exported are the same as those imported; (viii) the said laboratories and agencies shall obtain Guaranteed Remittance (GR) waiver in respect of import and re-export as per the procedure laid down by the Reserve Bank of India (RBI) and realise the foreign exchange for the service charges in terms of the Reserve Bank of India (RBI) guidelines; (ix) the Custom Offi .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... vide Not. 25/2016 - Dated 30-3-2016 2. Substituted vide Not.61/2017 - Dated 30-6-2017 , before it was read as, 1st July, 2017, specified in the said First Schedule 3. Inserted vide Notification No. 24/2020 - Customs dated 21-05-2020 4. Inserted vide Notification No. 24/2020 - Customs dated 21-05-2020 5. Substituted vide NOTIFICATION NO. 20/2022 - Customs dated 06-04-2022 before it was read as 3. International Institute of Diamond Grading Research India Pvt. Ltd., Surat, Gujarat, India 6. Substituted vide Notification No. 28/2023 Customs, dated 01.04.2023 , before it was read as, 4.75. 7. Substituted vide Notification No. 28/2023 Customs, dated 01.04 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X