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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Private bonded warehouse facilities for diamonds not restricted to bulk license holders under Para 8.13</h1> The Central Board of Excise & Customs clarified that private bonded warehouse facilities under Para 8.13 of Exim Policy 1997-2002 are not restricted to holders of bulk licenses under Para 8.10. The Ministry of Commerce confirmed these are separate schemes with different objectives - bulk licenses facilitate rough diamond imports for domestic supply, while private bonded warehouses aim to establish India as a trading center for both rough and cut/polished diamonds and colored gemstones. The warehouses can handle imports and re-exports of various diamond and gemstone categories. Security requirements were enhanced from 25% to 50% of duty liability through cash deposit or bank guarantee, along with the required bond. Existing circulars regarding sensitive goods storage and warehouse establishment procedures remain applicable for licensing these facilities.
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