Notification No. 7/2017, Dated 1st March 2017

[TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY]

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
(CENTRAL BOARD OF EXCISE AND CUSTOMS)

Notification No. 07/2017 – Customs

New Delhi, the 1st March, 2017

G.S.R.---- (E)- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 9/2012- Customs, dated the 9th March, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 129 (E), dated the 9th March, 2012, namely:-

In the said notification, -

(a)  after the proviso to condition (v), the following paragraph shall be inserted, namely:-

"2. Notwithstanding anything contained herein above, the exemption contained in this notification shall also be applicable, if the exportation and re-importation of cut and polished diamonds as stated above are undertaken by the authorised offices or agencies in India of the laboratories mentioned under paragraph 4.74 of Handbook of Procedures 2015-2020 on behalf of the exporters subject to the fulfillment of conditions (ii),(iii),(iv) and(v) specified herein above and in the Foreign Trade Policy and Handbook of Procedures. ";

(b)  For the Explanation, the following Explanation shall be substituted, namely, “Explanation. - For the purposes of this notification, “Foreign Trade Policy” means the Foreign Trade Policy, 2015-2020, published by the Government of India in the Ministry of Commerce and Industry, vide notification No. 01/2015-2020, dated the 1st April, 2015, as amended from time to time.”.

F. No. DGEP/G&J/04/2017

(Dharmvir Sharma)
Under Secretary to the Government of India

Note. – The principal notification No. 9/2012- Customs, dated the 9th March, 2012, was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 129 (E), dated the 9th March, 2012 and was last amended by notification No. 16/2014-Customs, dated 11th July, 2014, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-Section (i) vide number G.S.R. 463 (E), dated the 11th July, 2014.