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Setting of Private/ Public bonded warehouses for import and re-export of
cut & polished/ coloured gemstones, rough diamonds etc.
Circular
No. 28
dated
24th April 1998
I am directed to refer to the Notification No.
39/1997-2002 dt. 26th February 1998 issued by the DGFT (copy enclosed for ready
reference). The scheme under para 8. 13 of the EXIM Policy provides for setting
up Private/ Public Bonded warehouses in EPZ/ DTA for import and re-export of cut
& polished diamonds, cut & polished coloured gemstones, import and
re-export of rough diamonds, uncut & unset precious & semi-precious
stones and DTA sales of rough diamonds, uncut & unset precious & semi-
precious stones against REP/ GEM REP/ Diamond Imprest Licenses, subject to
payment of duty wherever applicable.
2.
To operationalise the above scheme following procedure may be followed:
(i) The scheme shall
be applicable to jurisdiction of Commissioner of Customs, Mumbai, Jaipur, Delhi
& Chennai. A Private/ Public Warehouse may be set up in DTA/ EPZ subject to
observance of Board's existing instruction on setting up such warehouses where
in the imported goods would be kept by the warehouse licence holder Physical
control over the warehouse in the form of Double Lock System & posting of
Cost Recovery Officer is waived.
(ii) Clearance from the
bounded warehouse may be taken by the REP or GEM REP or Diamond Imprest Licence
holder as the case may be filing ex-bond Bill of Entry or Bill of Entry for home
consumption. It can also be taken by an EOU or EPZ unit on filing ex-bond Bill
of Entry. Such Bill of Entry would not be required to be referred to the
licensing authority.
(iii) Although rough diamonds at
present are chargeable to nil rate of duty, for the purpose of regulatory
control these will be deemed to be dutiable goods and the procedure for bonding
or ex-bonding of dutiable goods will be followed in their case also.
(iv) The clearance from the bonded
warehouse shall be taken by EOU/ EPZ under authorisation from the Asstt.
Commissioner. The holders of REP or GEM REP or Diamond Imprest Licence can take
the goods by following the procedures given under pare 8.24 & 8.25 of
Handbook of Procedures. Details in this regard are to be given to the Assistant
Commissioner by warehouse licence holder instead of licensing authority.
(v) The holders of diamond
Imprest licence while clearing the dutiable goods from the bonded warehouse
shall execute a bond equal to the duty amount leviable on the goods ex-bonded.
Such licence holders may be permitted to maintain a running bond account with
the Customs House so that he does not have to file separate bond for each Bill
of Entry.
(vi) The warehouse licence holder
shall be responsible for the safe keeping of the goods, for making physical
delivery thereof to the users, as the case may be, against duty assessed Bills
of Entry on which ex-bond clearance has been allowed by the proper officer, and
for rendering to Customs a complete account of goods received and kept, them in
bond. In their capacity as bonders, they will also maintain the prescribed
records, including name, address and other specified details of the users and
quantity of the goods released to the user and exported by him.
(vii) The record regarding
execution of bond by Diamond Imprest Licence holders as stated above shall be
maintained by the Assistant Commissioner of Customs in the same way as is
required to be maintained for exports of excisable goods under bond. However, on
submission of proof of exports, the corresponding bond may be re-credited to the
exporter's account and may be allowed to be used for the subsequent ex-bond
clearances. However, in the event of the exporter failing to produce proof of
export on the expiry of the period prescribed in the EXIM Policy, the Assistant
Commissioner may proceed to recover the amount of Customs duty leviable on the
quantity of goods released to the exporter free of duty.
(viii) Separate Bond/ Stock Account
register in the form, Annexure-I and Stock Card in the form, Annexure-II is to
be maintained by the each Licensee. The details are to filled on the date of
transaction and the signatures of the Licensee/ authorised representative be
appended after every transaction.
3. The above said
procedures may be brought into effect immediately, and the trade informed
suitably. Proper steps may be taken for smooth transition from existing scheme
to new scheme without dislocating the trade.
4. Proforma of
Stock Account Book to be maintained by the licensee of the private Bonded
Warehouse
|
Bond No. & Date
|
Date of Receipt of goods
in Warehouse
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B/ E & date
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Quantity of Weight
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Description of goods
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Value of the goods
|
Rate of Duty
|
Amount of duty
|
Bonder's signature
|
Bond Officer signature
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(1)
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(2)
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(3)
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(4)
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(5)
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(6)
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(7)
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(8)
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(9)
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(10)
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ISSUES
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Date of clearance
|
Description of goods
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Quantity of Weight
|
Value of goods
|
Amount of Duty
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B/ No. & date
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S/ B No. & date
|
Receiver's name &
address
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Balance
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Bonder's sign.
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Bond Officer sign.
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(1)
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(2)
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(3)
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(4)
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(5)
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(6)
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(7)
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(8)
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(9)
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(10)
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(11)
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ANNEXURE - II
Proforma of Stock Card to
be maintained by the licensee for each stock
1. Bonder's Name
:
2. Date of Warehousing
:
3. Bond registers & page number
:
4. Description of goods
:
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Bond No. & date
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Quantity/ number received
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Quantity delivered
|
B/ E or S/ B No. &
date
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Balance Quantity/ number
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Bonder's initial
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Bond Officer Initial
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(1)
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(2)
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(3)
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(4)
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(5)
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(6)
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(7)
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