Imports by gem & jewellery units - Amendment to Notification No. 3/88-Cus. [G.E. No. 140] - 151/91 - Customs -Tariff

Imports by gem jewellery units - Amendment to Notification No. 3/88-Cus. [G.E. No. 140] Notification No. 151/91-Cus. Dated 8-11-1991 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. 3-Customs/88, dated the 14th January, 1988, namely :- In the said notification, - (a) in paragraph 1, for the words "when imported into India for the purposes of use in the manufacture of jewellery for export out of India, by or on behalf of a hundred per cent export oriented undertaking", the words "when imported into India for the purposes of use in the manufacture of jewellery for export out of India by a hundred per cent export oriented undertaking" shall be substituted; (b) after condition (xvi), the following paragraph 2 shall be inserted, namely :- "2. Notwithstanding anything contained in paragraph 1 of this not notification, the exemption contained therein shall also apply to gold falling under Heading No. 71.08 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) imported by the Mineral and Metals Trading Corporation of India Limited and the State Bank of India for being supplied to the hundred per cent export oriented undertakings in the Special Export Oriented Complex under the scheme for export of gold and silver jewellery and articles from Export Processing Zones and from hundred per cent Export Oriented Complexes as specified in paras 324 and 325 of Volume 1 of the Import and Export Policy, April, 1990 - March, 1993 of the Government of India in the Ministry of Commerce : Provided that where gold is imported on behalf of a jewellery unit, the exemption shall apply only if - (a) the procedures as may be specified by the Collector of Customs are followed by such a jewellery unit; and (b) the conditions stipulated in para 1 of this notification are complied with by such a jewellery unit".