GST India Solution

Ask a Query

Client Login

Welcome GST India Solution

Circular No. 31/2009-Cus

F.No.: DGEP/G&J/490/2006
Govt. of India
Ministry of Finance
Department of Revenue
Central Board of Excise & Customs
Directorate General of Export Promotion

New Delhi, the 24^th November, 2009

All Chief Commissioners of Customs/Central Excise,

All Commissioners of Customs /Central Excise.

Madam /Sir

Sub: Setting up Private/Public bonded warehouse for diamonds and gemstones for import and re-export therefrom-reg.

Attention is invited to erstwhile scheme for setting up private/public bonded warehouse in SEZ/DTA for import and re-exports of cut & polished diamonds, cut & polished colored gems stones, uncut & unset precious & semi precious gemstones, subject to achievement of minimum value addition of 5% under paragraph 4A.18 of the Foreign Trade Policy 2004-09. This scheme has now been deleted from the Foreign Trade Policy 2009-14 announced on 27.08.2009 by DGFT.

2. The erstwhile scheme (para 4A.18 of FTP 2004-09) was in operation vide Board’s circular No. 28/98-Cus dated 24.04.1998 and clarification issued vide circular No. 47/99-Cus dated 27.07.1999.

3. In view of withdrawal of the scheme for setting up private/public bonded warehouse for diamonds and gemstones from Foreign Trade Policy 2009-14, no new private/public bonded warehouse license can be allowed for bonding of diamonds and gemstones for import and export thereform. Further, such a facility can also not be allowed for non-dutiable goods in term of section 57 of the Customs Act, 1962.

4. Accordingly, the circular No. 28/98-Cus dated 24.04.1998 stands withdrawn to the above extent.

5. As a transitory arrangement for the existing warehouses to surrender the bonding license, a period of three months is granted from the date of issue of this circular. For this three months period, diamonds and gemstones may be deemed as dutiable goods for the purpose of regulatory control and the procedure of ex-bonding of dutiable goods shall be followed. However, bonding of these goods shall not be allowed in the existing warehouses.

6. Wide publicity may please be given to these instructions by way of issuance of Public/Trade Notice. Suitable Standing orders/instruction may be issued for guidance of the field officers. Difficulties, if any, in implementation of these instructions, may be brought to the notice of the Directorate General of Export Promotion.

7. This issues with the approval of Central Board of Excise & Customs.

8. Receipt of this circular may kindly be acknowledged.

Yours faithfully
(Praveen Mahajan)
Director General

GST RATES FINDER GST ACTS BOOK (DECODING GST) GST RULES GST PROVISIONAL REGISTRATION MODEL GST LAW LEVY OF TAX

Latest Articles

<--

WHAT IS GST?

GST i.e.Goods and Service Tax is a unified tax that replaces several indirect taxesleviedby the Central Government and the State Government(s)....

-->

BASIS OF CHARGE OF GST- SUPPLY

In pre-GST regime, goodswere liable to: (i) Excise Duty- on manufacture of goods; (ii) VAT/CST- on sale of goods; (iii) Entry tax- on ...

WHO IS LIABLE TO PAY TAX

GST is levied on every taxable person. Taxable person means a person who carries on any business at any place in India. Such . ..

WHAT IS TAXED UNDER GST

GST is a unified tax which is levied on: (i) goods; (ii) services and (iii) a mix of goods and/or services. Any supply of goods or services . .. ...

Who We Are

GST India Solution is an effort of firm of professionals who welcome implementation of GST. This is an interactiveplatformthat aspires to disseminate right knowledge to professionals, practitioners and public at large. This platform has beenfloatedbya firm of Chartered Accountants relentlessly working in field of direct and indirect taxes since early 1985.

Goods & Service Tax

Our core competence is statutory compliance, advisory, corporate tax planning and appellate matters of direct and indirect taxesandcorporate training sessions on GST.

The senior partner of the firm has to his credit several professional publications viz., Delhi Sales Tax Right to Use Goods Act, Delhi VAT, Maharashtra VAT, West Bengal VAT, Haryana VAT published by Taxmann. Madhya Pradesh VAT and Chhattisgarh VAT were published by Suvidha Law House, Bhopal. He has also addressed seminars on indirect taxes organized by professional bodies like ICAI, IMA, NIFM etc. and has also contributed articles on subjects of pro. . . . .