Export of Rough Diamonds purchased from the Market Permitted

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..... A doubt had arisen as to whether rough diamonds purchased from the open market can be exported without any restriction. The issue was examined in consultation with Ministry of Commerce and it was clarified by the Board that there should be no bar for export of rough diamonds even if procured from domestic market provided the payment is received is freely convertible currency. 2. The .....

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..... Bhawan, New Delhi- 110011 No. 1/9/44/ 97-98/ PC -II/ 527 Dated 18.6.1997 Subject : Clarification on export or rough diamonds Dear Sh. V.S.A. Suri, Secretary, C JEPC, Kindly refer to your various letters on the subject. We have also received some other representations from individual exporters on the above subject. In consultation with the Minis .....

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..... customs are not required to verify bill of entry because export of rough diamonds will be either under para 8.9 of Handbook of Procedures in which case they will have to come to Joint DGFT Office or under para 11.8 of Exim Policy in which case the operation will be from custom bonded warehouses. (4) The value of rough diamonds are allowed as per para 8.9 of Handbook of Procedures (Vo .....

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..... name for imports of rough diamonds effected on or after 1.4.97 2. This issues with the approval of DGFT / Ministry of Commerce. Sd /- (L.B. Singhal) Dy. Director General of Foreign Trade - Circular - Trade Notice - Public Notice - Ins .....

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