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

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....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 of diamonds for certification and grading and re-export thereof. Procedure in ....

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....iled 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, shall allot a unique 'control number' for identification purposes and maintain a separate account ....

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.... 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 reflect the B/E No. & date, details of diamonds and details of re-exports etc; and xiii Re-export shall be allowed....