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Archive: 28 April 1999

Posts in 28 April 1999

Notification No. 42/1999-Customs, Dated: 28-4-1999

April 28, 1999 679 Views 0 comment Print

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 the cut and polished diamonds and Gemstones falling under Chapter 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 Diamond Imprest Licences issued under para 4.4.16.

This notification exempts specified goods imported for use in the manufacture of gems and jewellery for export by the holder of Replenishment Licenses

April 28, 1999 451 Views 0 comment Print

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 the goods as specified in the Annexure-I and Annexure-II to this notification, upto one per cent of the Free On Board (FOB) value of preceding financial year of the export of Gems and Jewellery or cut and polished diamonds, as the case may be, when imported into India against the Replenishment Licence referred to in para 4.80.

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