Private Bonded Warehouses eligibility broadened beyond bulk licence holders; security requirement increased to protect government revenue. Private Bonded Warehouses under the Exim Policy are not limited to Bulk Licence holders and may permit import and re export of both rough and cut & polished diamonds and coloured gemstones; licensing must follow applicable Board circulars and warehousing instructions. To safeguard revenue, such warehouses must furnish a cash deposit or bank guarantee equal to one-half of the duty liability along with the bond, replacing the earlier lower security requirement.
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Provisions expressly mentioned in the judgment/order text.
Private Bonded Warehouses eligibility broadened beyond bulk licence holders; security requirement increased to protect government revenue.
Private Bonded Warehouses under the Exim Policy are not limited to Bulk Licence holders and may permit import and re export of both rough and cut & polished diamonds and coloured gemstones; licensing must follow applicable Board circulars and warehousing instructions. To safeguard revenue, such warehouses must furnish a cash deposit or bank guarantee equal to one-half of the duty liability along with the bond, replacing the earlier lower security requirement.
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