Diamond Imprest Licence: requires minimum value addition, execution of legal undertaking, non-transferable actual user imports and caratage accounting. Diamond Imprest Licence permits specified imports of cut and related diamonds subject to banker declarations, documentary requirements and execution of a two year Legal Undertaking. Licence holders must effect a minimum 10% value addition, account imports and exports in caratage, import stones not exceeding one quarter carat, and comply with actual user and non transferability conditions; entitlements must be exhausted within the issuing year. Extensions and regularisation of defaults are subject to prescribed penalties and conditions, and transitional rules govern pre existing licences.
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Provisions expressly mentioned in the judgment/order text.
Diamond Imprest Licence: requires minimum value addition, execution of legal undertaking, non-transferable actual user imports and caratage accounting.
Diamond Imprest Licence permits specified imports of cut and related diamonds subject to banker declarations, documentary requirements and execution of a two year Legal Undertaking. Licence holders must effect a minimum 10% value addition, account imports and exports in caratage, import stones not exceeding one quarter carat, and comply with actual user and non transferability conditions; entitlements must be exhausted within the issuing year. Extensions and regularisation of defaults are subject to prescribed penalties and conditions, and transitional rules govern pre existing licences.
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