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Precious stones import by post on �approval or return� basis
Notification
No. 248 dated 2nd August 1976
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 exempts precious stones,
falling within Chapter 71 of the First Schedule to the Customs Tariff Act, 1975
(51 of 1975), imported by post on �approval or return� basis, from payment
of the whole of the duty of customs leviable thereon which is specified in the
said First Schedule, subject to the conditions that -
(i)
the importer shall apply in writing for a grant of exemption under this
notification and the application shall be accompanied by all documents in his
possession supporting his claim that the precious stones are being imported on
�approval or return� basis;
(ii)
the importer shall appear before the Postmaster in the post office in which the
consignment is kept on the day specified therefore by the proper officer of
Customs and shall give a receipt that he has received the consignment as a whole
, that is to say, the entire lot of precious stones sent by the exporter;
(iii)
the consignment referred to in condition (ii) shall then be given to the
importer for inspection in the immediate presence of the proper officer of
Customs and the postal authority concerned in the post office itself and after
the sorting of the precious stones into approved and unapproved lots, the
unapproved lots shall be packed, for being exported to the consignor, in the
immediate presence of the said officer and the authority and under their
supervision and the lots shall not be removed from the custody of the Postal
Department;
(iv)
the importer shall forthwith pay:
(a)
the duty of customs leviable on the precious stones sorted as approved by him
and take delivery thereof; and
(b)
the fees, if any, for services referred to in condition (iii).
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