Inception date: 28 Feb 2012 | Removal date: open ended

Import tariff

On 28 February 2012, the Ministry of Commerce and Industry through Notification No. 100(RE-2010)/2009-14 exempted the re-imports of Cut and Polished Diamonds, exported for Certification/Grading to specified agencies, from the customs duty of 2% imposed on these diamonds.

On 9 March 2012, the Ministry of Finance through Notification No. 09/2012-Customs notified the same and specified the conditions for availing such duty exemption (listed below) -

  • The diamonds are re-imported by gems and jewellery exporters with a track record of at least 3 years and an average turnover of 5 crore rupees during the preceding 3 years
  • Each piece of such diamonds should not be less than 0.25 carats in weight
  • The certified/graded diamonds must be re-imported within 3 months of exports
  • A certification/grading report is required for re-imports and
  • The re-imported diamonds must match with the exported diamonds as mentioned in the invoice

On 1 March 2017, through Notification No. 07.2017-Customs the Ministry of Finance notified that the above duty exemption will also be available on diamonds exported and re-imported on behalf of the exporters by the authorized offices and agencies in India of the laboratories certified for grading and certification.

On 22 May 2017, the Ministry of Finance through Notification No. 21/2017-Customs notified that any customs duty payable on the imports of such diamonds imported between 9 March 2012 and 1 March 2017 by the authorized offices or agencies in India of the said laboratories shall also not be required to be paid.

A customs duty of 2% was imposed on the imports of cut and polished diamonds on 16 January 2012.

On 10 July 2020, the Indian Central Board of Indirect Taxes and Customs through Notification No. 30/2020-Customs extended the time limit for re-import by 3 months for those cases where the last date for re-import falls between 1 February 2020 and 31 July 2020.

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