Private/Public Bonded Warehouse for Diamonds/Coloured Gemstones under Para 8.13 of Exim Policy 1997-2002 - Clarification regarding

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..... Subject : Private/Public Bonded Warehouse for Diamonds/Coloured Gemstones under Para 8.13 of Exim Policy 1997-2002 - Clarification regarding. A point has been raised as to whether the facility of Private Bonded Warehouses as envisaged under Para 8.13 of Exim Policy 1997-2002 is to be provided only to the holders of Bulk Licences under Para 8.10 of said Policy or to any ot .....

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..... ecious stones. The objectives of both the Schemes are thus different. While Bulk Licences are meant for ensuring the availability of rough diamonds to the exporters of cut polished diamonds and are issued for import of rough diamonds only, the Private Bonded Warehouses are meant for making India a Trading Centre of diamonds and coloured gemstones and both the rough as well as cut polished di .....

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..... tion to warehousing will also be applicable in so far as they are consistent with the above said Circulars. 4. In Board's Circular No. 99/95, dated 20.9.95, a provision has been made for obtaining cash deposit or Bank Guarantee equal to 25% of the duty liability. In order to safeguard Government Revenue, it has been decided that Private Bonded Warehouse under Para 8.13 will be required .....

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