Customs exempts import duty on cut and polished diamonds to authorised agencies and offices
The Dollar Business Bureau The government has exempted the customs duty payable on the imports of cut and polished diamonds during the period from the March 9, 2012 to March 1, 2017. The given benefit is applicable on diamonds of 0.25 carat and above that are exported abroad for certification and grading. In its latest notification No.21/2017-Customs dated May 23, 2017, the office of Customs says, “the Central Government, hereby, directs that the whole of duty of Customs and additional duty of Customs, if any, payable on the import of such cut and polished diamonds during the period from the March 9, 2012 to March 1, 2017 by the authorised agencies/offices in India of laboratories mentioned under para 4.74 of the Hand Book of Procedure, but for ...
