Duty exemption for raw pearls, natural or cultured, rough diamonds and other precious or semi-precious stones, unset and uncut.

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....^th March, 2001. Notification No. 35 /2001-Customs In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 27/2001-Customs, dated the 5^th March, 2001 (GSR 163(E), dated the 5^th March, 2001) except as respects things d....

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.... Replenishment Licence issued under, and in accordance with, paragraph 8.37 of the Export and Import Policy; (iii) Gem Replenishment Licence issued under, and in accordance with, paragraph 8.38 of the Export and Import Policy; (iv) Replenishment Licence issued under, and in accordance with, paragraph 8.74 of the Handbook of Procedures; (v) Diamond Imprest Licence issued under, and in a....

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....r and as per procedure specified in the Export and Import Policy and Handbook of Procedures, and to comply with the conditions stipulated in the relevant provisions thereof; (ii) to pay on demand, in case of failure to achieve any part of export obligation, an amount equal to the duty leviable on the value of the said rough diamonds but for the exemption contained herein which can be attribute....

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....-export, in accordance with, and as per procedure specified in the Export and Import Policy and Handbook of Procedures, and to comply with the conditions stipulated in the relevant provisions thereof; (ii) to pay on demand, the duty on the said rough diamonds as are not properly accounted for by him alongwith interest at the rate of 24% per annum on the said duty from the date of importation o....