Amendment to the Notification No. 40/2015 Customs dated 21.07.2015 to substitute the name of M/s International Institute of Diamond Grading and Research India Pvt Ltd by M/s De Beers India Pvt ltd.

## Policy Analysis Report: Amendment to Customs Notification No. 40/2015-Customs **1. Executive Summary:** This report analyzes a specific amendment to the Government of India's Customs Notification No. 40/2015-Customs, dated July 21, 2015. The amendment, issued on April 6, 2022, modifies the entries in the original notification's table, specifically substituting information related to serial number 3 with details for De Beers India Private Ltd, Surat, Gujarat, India. This change likely pertains to customs-related benefits or obligations applicable to De Beers India Private Ltd. The amendment aims to update or correct the relevant customs information associated with this entity. **2. Introduction:** This report provides an analysis of the notification No. 20/2022-Customs, dated April 6, 2022, which constitutes an amendment to the existing Customs Notification No. 40/2015-Customs. The analysis is based solely on the provided text of the amendment. **3. Policy Overview:** * **Original Policy:** This amendment pertains to Customs Notification No. 40/2015-Customs, dated July 21, 2015. * **Core Objective(s):** Based on the text and the reference to Section 25(1) of the Customs Act, 1962, the original policy's objective is likely related to granting exemptions or imposing conditions related to customs duties, deemed necessary in the public interest. The amendment maintains this objective, focusing on updating a specific entry. **4. Background and Rationale:** The amendment appears to be driven by a need to update the information within the original Customs Notification No. 40/2015-Customs. The specific reason for replacing the entry at serial number 3 with details for De Beers India Private Ltd. could be due to various factors such as a change in the company's status, address, applicable customs regulations, or other relevant factors. The "public interest" clause suggests this update is deemed important for proper customs administration. **5. Key Provisions / Changes:** * **Specific Part Changed:** The amendment modifies the table within the original Customs Notification No. 40/2015-Customs. * **New Rule/Provision:** The new rule or provision involves substituting the existing entry at serial number 3 with "De Beers India Private Ltd, Surat, Gujarat, India." and referencing "F.No.DGEPGnJ012021TECH". * **Effect of Change:** The effect of this change is to replace the previous entity listed at serial number 3 with De Beers India Private Ltd., making the original policy's provisions related to that serial number now applicable to De Beers. The impact of the provision relies on understanding the original Notification No. 40/2015-Customs which is not provided. However, with this change, De Beers is now liable to whatever duties are related to the initial ruling. **6. Target Audience and Stakeholders:** The primary stakeholders directly affected by this amendment are: * **De Beers India Private Ltd:** As the entity specifically named in the amendment, De Beers India Private Ltd. is directly affected by the associated customs regulations, duty changes, or exemptions outlined in the original notification. * **Customs Authorities:** The Central Board of Indirect Taxes and Customs (CBIC) and its officers are responsible for implementing and enforcing this amendment. * **Other Businesses Involved in Similar Trade:** Competitors of De Beers or entities involved in similar trade activities may be indirectly affected. **7. Implementation Aspects (Inferred):** * **Responsible Agency:** The Central Board of Indirect Taxes and Customs (CBIC), under the Department of Revenue, Ministry of Finance, is responsible for implementing this amendment. * **Procedures:** The amendment refers to the Customs Act, 1962, indicating that standard customs procedures will apply. * **Specific Changes:** Implementation involves updating customs records and systems to reflect the change in the entity listed at serial number 3. Customs officials will need to be aware of the amended notification when processing imports or exports related to De Beers India Private Ltd. **8. Expected Outcomes / Impact of Changes:** The likely intended outcome of this amendment is to ensure accurate and up-to-date application of customs regulations to De Beers India Private Ltd. This should result in: * Correct application of customs duties, exemptions, or other benefits to De Beers India Private Ltd. * Improved compliance with customs laws and regulations. * Reduced ambiguity and potential disputes related to customs treatment of De Beers India Private Ltd. **9. Conclusion:** The amendment to Customs Notification No. 40/2015-Customs, issued on April 6, 2022, specifically substitutes an entry within the original notification's table with details pertaining to De Beers India Private Ltd. This change ensures that the customs regulations outlined in the original notification are accurately applied to De Beers, promoting compliance and clarity. The notification is significant for De Beers and customs officials, requiring them to adhere to the updated information for import and export activities.

Key Entities Referenced