ANNOUNCEMENT 21 Jul 2015

In July 2015, the government of India exempted the import duty on diamonds imported for grading and re-exported after this process.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 1 neutral
  • 0 liberalising

SOURCE



Notification NO. 40/2015 - Customs
http://www.cbec.gov.in/htdocs-cbec/customs/cs-act/notifications/notfns-2015/cs-tarr2015/cs40-2015

Inception date: 21 Jul 2015 | Removal date: open ended

Other export incentive

 On 21 July 2015, India exempted from customs duty import of cut and polished diamonds that are imported into India for grading and certification and then re-exported out of India. The exemption is available only when the diamonds are imported for grading by the following laboratories - 
 

  1. Gemological Institute of America (GIA), Mumbai, Maharashtra
  2. Indian Diamond Institute, Surat, Gujarat
  3. International Institute of Diamond Grading & Research India Pvt. Ltd., Surat, Gujarat.

 
The impact of this measure is two fold. It is a tariff decrease for specific Indian diamond imports. Primarily however, it is an state aid to the mentioned certification institutes.

AFFECTED SECTORS

 
163 382

AFFECTED PRODUCTS

 
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