Introduction of new Scheme as 'Diamond Imprest Authorisation' under Chapter 4 of Foreign Trade Policy 2023

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 1 January 2025 Subject: Introduction of new Scheme as Diamond Imprest Authorisation under Chapter 4 of Foreign Trade Policy 2023. S.O.(E) : - In exercise of powers conferred by Section 3 read with Section 5 of Foreign Trade (Development and Regulation) Act, 1992 , read with Paragraph 1.02 of the Foreign Trade Policy, 2023 , as amended from time to time, the Central Government hereby notifies the f .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... bility An exporter with a Two Star Export House status or above, and having achieved a minimum export performance of US$ 15 million in Cut Polished Diamonds each year for the past three financial years and having filed all GST and Income Tax returns for those years, may be granted a Diamond Imprest Authorization. This authorization allows the import of Natural Cut Polished Diamonds up to 5% of the .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... rever applicable. Such, imports are also exempt from whole of the Integrated Tax and Compensation Cess leviable under sub-section (7) and sub-section (9) respectively, of section 3 of the Customs Tariff Act, 1975 (51 of 1975). 4.64 Actual User Condition and Pre-Import Condition for Diamond Imprest Authorisation i. Diamond Imprest Authorisation and material imported under Diamond Imprest Authorisat .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X