Procedure and guidelines for import of diamonds for certification and grading and re-export thereof - reg.

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....on New Delhi, the 22nd October, 2009   To All Chief Commissioners of Customs/Central Excise, All Commissioners of Customs /Central Excise. Sub: Procedure and guidelines for import of diamonds for certification and grading and re-export thereof - reg. Madam/Sir A new scheme under paragraph 4A.2 has been introduced in the Foreign Trade Policy 2009-2014 (FTP) for import o....

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....he prescribed period; iii. The import shall be allowed under bill of entry having the detailed description of the diamonds, including inter alia, the dimensions, weight, colour, caratage, specification, approximate value etc of each piece of diamonds; iv. The bill of entry should carry the endorsement "only for certification and grading"; v. GIA, while taking the diamonds in their unit, s....

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....GIA can be visited by Custom officers for surprise audit or checks. The Commissioner should devise a system of random audit at least twice a year; xi. The diamonds imported for certification/grading are to be re-exported within a period of 3 months from the date of import; xii. The importer shall submit a quarterly statement by 25th of the month succeeding quarter. The statement should refle....