Question : CORNERING TAX BENEFITS BY FEW

(a) details of customs duty exemptions given to imports of diamond, gold and jewellery items during each of the last three years along with loss of revenue as a result thereof; and

(b) details of the individuals/families/companies who have been benefited most by this exemption and the reaction of the Government thereon?

MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI J. D. SEELAM)

(a): The details of customs duty exemptions given along with revenue foregone against diamond, gold and jewellery during each of the last three years are furnished in the Statement enclosed.

(b): This information is not maintained by the Ministry as customs duty is leviable on goods and not on individuals or companies.

Statement referred in reply to part (a) of Lok Sabha Unstarred Question No. 1418

1. The details of customs duty exemptions on diamond, gold and jewellery in the last three years are as given below:

Customs Duty
S.No	Commodity	2010-11	2011-12	2012-13	Before	w.e.f.	w.e.f.	w.e.f.	17.1.2012	17.1.2012	17.3.2012	21.1.2013
1.	Rough Diamond	NIL	(Industrial or Non-	Industrial)
2.	Cut and Polished	NIL	NIL	2%	2%	Diamond (Non-	Industrial)
3.	Standard gold of	Rs.300	Rs.300	2%	4%	6%	purity not below	per 10	per 10	99.5%	gm	gm
4.	Gold in any form	Rs.750	Rs. 750	5%	10%	10%	other than at S.No.	per 10	per 10	3 above including	gm	gm	liquid gold and	tola bars.
5.	Articles of jewellery	10%	10%	10%

Revenue foregone ( Rs.crore)
2010-11	2011-12	2012-13 (Estimated)
49164	65975	61035