TaxTMI 
TaxTMI 
Gem and jewellery units - Specified goods imported by them exempted
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....f this notification (hereinafter referred to as the Zone), for the manufacture or packaging of gem and jewellery for exports out of India, or for the promotion of exports of gem and jewellery, from the whole of the duty of customs leviable thereon under the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), and from the whole of the additional duty, if any, leviable thereon under section 3 of the said Customs Tariff Act, subject to the following conditions, namely :- (1) the importer has been authorised to establish a manufacturing unit in the Zone for the purposes specified in this notification; (2) the importer is covered, wherever required, by a general or specific permit issued by the Reserve Bank of India; (3) the importer....
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....l not be brought to any other place in India (that is to say the Domestic Tariff Area) for whatever purpose : Provided that scrap, dust or sweepings of gold arising in the manufacturing process may be forwarded to the Government Mint by the importer for conversion into standard gold bars and return to the said Zone in accordance with the procedure specified by the Collector of Customs in this regard; (9) in the event of a unit ceasing its operation, gold, other precious metals, alloys, gem and material for the manufacture of jewellery shall be handed over to the Agency, nominated in this behalf by the Government of India in the Ministry of Commerce; (10) the Assistant Collector of Customs may allow, subject to the fulfilment of condition....
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....sale to a tourist as defined in the Baggage Rules, 1994, leaving India in accordance with the procedure specified by the Collector of Customs. Explanation. - For the purposes of this notification, "Export-Import Policy" means the Export and Import Policy, 1st April, 1992 - 31st March, 1997, published under the Ministry of Commerce Public Notice No. 1-ITC (PN)/92-97, dated the 31st March, 1992, as amended from time to time. 2. Notwithstanding anything contained in the first paragraph, the exemption contained therein shall also apply to silver and gold falling under Heading Nos. 71.06 and 71.08 respectively of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) imported by the Minerals and Metals Trading Corporation of India Lim....