Prescribes rate of custom duty in Respect of diamonds, Platinum, Gold and Silver. - 01 /2012-Customs - Customs -Tariff

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 01 /2012-Customs New Delhi, the 16th January, 2012 G.S.R. 22(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, on 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. 21/2002-Customs , dated the 1st March, 2002 which was published in the Gazette of India, Extraordinary, vide G.S.R. 118(E) dated the 1st March, 2002, namely: - In the said notification, in the Table,- (i) for S. No. 187 and the entries relating thereto, the following shall be substituted, namely:- (1) (2) (3) (4) (5) (6) 187 71 Non-industrial diamonds including lab- grown diamonds (other than rough diamonds) 2% - - ; (ii) for S. No. 189 and the entries relating thereto, the following shall be substituted, namely:- (1) (2) (3) (4) (5) (6) 189 7110.11 or 7110 19 00 Platinum 2% - - ; (iii) for S. No. 422 and the entries relating thereto, the following shall be substituted, namely:- (1) (2) (3) (4) (5) (6) 422 71 Diamonds including lab grown diamonds- semi-processed, half-cut or broken. Nil - - ; (iv) againstS.No. 518A ,for the entry in column (5), the entry 1% shall be substituted. (iv) for S. No. 518B and the entries relating thereto, the following shall be substituted, namely:- (1) (2) (3) (4) (5) (6) 518 B 71 Gold dore bar, having gold content not exceeding 95%. Nil 1% 5 and 109 518 C 71 Silver dore bar having silver content not exceeding 95% Nil 3% 5 and 109 (v) for Condition No. 109, the following shall be substituted, namely:- Condition No. Conditions 109 If,- (a) the goods are directly shipped from the country in which they were produced and each bar has a weight of 5 kg. or above; (b) the goods are imported in accordance with the packing list issued by the mining company by whom they were produced; (c) the importer produces before the Deputy Commissioner of Customs or the Assistant Commissioner of Customs, as the case may be, an assay certificate issued by the mining company or the laboratory attached to it, giving detailed precious metal content in the dore bar; (d) the gold dore bars are imported by the actual user for the purpose of refining and manufacture of standard gold bars of purity 99.5% and above; and (e) the silver dore bars are imported by the actual user for the purpose of refining and manufacture of silver bars of purity 99.9% and above. 2. This notification shall come into force on the 17th day of January, 2012. [F. No. 354/4/2012-TRU] [Raj Kumar Digvijay] Under Secretary to the Government of India Note.- The principal notification No. 21/2002-Customs , dated the 1st March, 2002 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 118(E) dated the 1st March, 2002 and was last amended vide notification No-. 120/2011-Customs dated the 30th December, 2011 which was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R 924 (E) dated the 30th December 2011.