Variation of 1mn and 1% weight in Specs for Reimported Diamonds Allowed

[Customs Notification No. 27 dated 18^th April 2012]

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following 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 which was published in the Gazette of India, Extraordinary, vide G.S.R. 129 (E) dated the 9th March, 2012, namely:-

In the said notification, for the Explanation and the entries relating thereto, the following shall be substituted, namely,-

Explanation. - (1) For the purposes of condition No. v), a variance not exceeding +_ 1 mm in height and circumference and not exceeding +_ 1 cent in weight shall be allowed.

(2)For the purposes of this notification, “Foreign Trade Policy” means the Foreign Trade Policy, published by the Government of India in the Ministry of Commerce and industry, vide notification No.1/2009-2014, dated the 27^th August, 2009, as amended from time to time.

F.No.354/4/2012-TRU