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Notification No. 248/76-Cus., dated 2-8-1976.
Precious stones-imported by post on "approval or return" basis.
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 exempts precious stones, falling within
Chapter 71 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), imported by post on "approval or return" basis,
from payment of whole of the duty of customs leviable thereon which is specified in the said First Schedule, subject to the
conditions that -
(i) the importer shall apply in writing for grant of exemption under this notification and the application shall be accompanied by
all documents in his possession supporting his claim that the precious stones are being imported on "approval or return" basis;
(ii) the importer shall appear before the Postmaster in the post office in which the consignment is kept on the day specified
therefor by the proper officer of Customs and shall give a-receipt that he has received the consignment as a whole, that is to
say, the entire lot of precious stones sent by the exporter;
(iii) the consignment referred to in condition (ii) shall then be given to the importer for inspection in the immediate presence of
the proper officer of Customs and the postal authority concerned in the post office itself and after the sorting of the precious
stones into approved and unapproved lots, the unapproved lots shall be packed/for being exported to the consignor, in the
immediate presence of .the said officer and the authority and under their supervision and the lots shall not be removed from the
custody of the Postal Department;
(iv) the importer shall forthwith pay-
(a) the duty of customs leviable on the precious stones sorted as approved by him and take delivery thereof; and
(b) the fees, if any, for services referred to in condition (iii).
notifications no 248 76 cus | iKargos