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
Notification NO. 40/2015 - Customs
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 -
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.