TaxTMI 
TaxTMI 
Establishment of a Special Notified Zone (SNZ) at Surat International Diatrade Centre (SIDC), 2nd Floor, Tower-B, Surat Diamond Bourse, Khajod, Surat
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....e Centre (SIDC), 2nd Floor, Tower-B, Surat Diamond Bourse, Khajod, Surat - regarding. The Gems & Jewellery Export Promotion Council (GJEPC), through its wholly owned subsidiary Surat International Diatrade Centre (SIDC), a company registered under Section 8 of the Companies Act, 2013, is operating a Special Notified Zone (SNZ) operated by SIDC at Gujarat Hira Bourse (GHB), Ichhapore, Surat intended to facilitate import of rough diamonds by eligible foreign mining companies for viewing, tendering/auction/sale to Indian diamond manufacturers and traders and re-export of the unsold lots. The GJEPC has submitted a proposal shifting of the said Special Notified Zone (SNZ) from Gujarat Hira Bourse (GHB), Ichhapore, Surat to their premises s....
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....unicipal Corporation and duly endorsed by the jurisdictional Customs officers. 2.3 It has, therefore, been decided to allow the facility of a Special Notified Zone at M/s Surat International Diatrade Centre (SIDC), 2nd Floor, Tower-B, Surat Diamond Bourse, Dream City, Village-Khajod, Taluka-Majura, District-Surat (hereinafter referred to as SNZ). The SNZ operations shall commence only after written authorisation by the Principal Commissioner or Commissioner of Customs, Ahmedabad. 2.4 M/s SIDC shall submit the floor plan, proposed facilities, including security related features, for approval under Section 8 of the Customs Act, 1962 and in terms of the requirements to The Principal Commissioner of Customs or Commissioner of Customs, Ahm....
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....xtant procedures with due safeguards. On arrival at Surat Diamond Bourse, Khajod, the imported parcels will be examined by Customs in the presence of the representatives of the mining company, M/s SIDC and M/s SDB Diamond Bourse (custodian) for tallying the carat weight with the import invoice, packing list and Kimberley Certificate. Thereafter the parcel will be sealed and transferred to the strong room at the SNZ. 7. The SNZ will be accessible to traders to visit for viewing the rough diamonds and/or auction / sale by bidding/sale by negotiation. The GJEPC/M/s Surat Diamond Bourse shall define the eligibility conditions for such visitors, under intimation to the Customs. All persons permitted to visit the SNZ shall be issued with photo....
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....by negotiation shall lead to a price discovery in respect of a lot or lots. The diamond mining company shall issue a sale invoice in respect of such lot or lots, as are sold. The sale invoice, so issued by the diamond mining company, shall be the relevant document for the declaration of value under Section 14 of the Customs Act, 1962. Such a lot or lots shall be cleared by the buyer by filing a bill of entry at the Surat Diamond Bourse, Khajod and the sold lot shall not be delivered or removed from the customs area until assessment, payment of applicable duty and grant of Out-of Charge by the proper officer. 12. The goods which are not sold shall be exported under a shipping bill, filed not later than 75 days of the date of import. In vi....