DGFT introduced new provisions in Chapter 4 of Handbook of ...

New Diamond Import-Export Scheme Requires 10% Value Addition, Restricts Trade Through Mumbai Airport Under DGFT Chapter 4.

January 22, 2025

Circulars DGFT

DGFT introduced new provisions in Chapter 4 of Handbook of Procedures 2023 establishing the Diamond Imprest Authorization (DIA) scheme. The scheme permits import and export of diamonds exclusively through Mumbai Airport, with mandatory pre-import conditions. DIA holders must achieve 10% value addition in freely convertible currency. Authorization validity is 12 months for imports with 18-month export obligation period. Only natural cut and polished diamonds weighing <=0.25 carats are eligible for export. Holders must execute a bond equal to export obligation with performance bank guarantee covering duty foregone. One IEC can obtain single authorization per financial year. The scheme prohibits deemed exports, revalidation, and export obligation extensions. Implementation commences from April 1, 2025.

View Source

← Previous Next →

DGFT introduced new provisions in Chapter 4 of Handbook of ...

New Diamond Import-Export Scheme Requires 10% Value Addition, Restricts Trade Through Mumbai Airport Under DGFT Chapter 4.

January 22, 2025

Circulars DGFT

You may also like:

The DGFT has introduced a new 'Diamond Imprest Authorisation' (DIA) scheme under Chapter 4 of the Foreign Trade Policy 2023. The DIA allows import of natural cut and...

Amendment in Chapter 3 Schemes of Foreign Trade Policy - Incremental Exports Incentivisation Scheme Reg. - Notification

The case pertains to the import of restricted goods, specifically marbles and mosaics, under the Import Policy at a value lower than the Minimum Import Price notified by...

Difference between purchase value and value determined by District Valuation Officer though more than 5% but below 10% of purchase consideration, transacted amount...

This trade notice clarifies that obtaining a Registration-Cum-Membership Certificate (RCMC) is not mandatory for exporters to claim benefits under post-export...

Value addition - Duty-free import of gold - Replenishment of gold under the ‘replenishment scheme’ from DIL against export of gold jewellery - The tribunal concluded...

Notification No. 24/2024-Customs issued to amend specified customs tariff notifications to exempt applicable import duty on imports of desi chana (HS 0713 20 20) up to...

The Government of India, Ministry of Commerce & Industry, Department of Commerce, Directorate General of Foreign Trade, issued Public Notice No. 08/2024-25 on...

Addition on account of diamond set received as gift by the appellant - The CIT(A) accepted the appellant's submission that the diamond set was indeed gifted by his late...

Undue benefit of Target Plus Scheme (TPS) - Export of cut and polished diamonds (CPD) without value addition - warehousing of imported CPD - it is alleged that after...

This public notice amends Appendix 2Y of the Foreign Trade Policy 2023 to exempt goods imported under Advance Authorisation, EOU, and SEZ schemes from mandatory Quality...

Valuation of imported goods - The Foreign Trade Act and the Section 125 of the Customs Act does not make any bar from redemption of such restricted goods imported...

This trade notice clarifies the procedure for import/re-import of "Exhibits and Samples" for demo, display, exhibition, and participation in fairs or events in India or...

Demand of Differential Duty - Inclusion of value of deemed export in the value of DTA clearance of goods - wrongful determination of assessable value of finished goods -...

Permission for re-export of imported diamonds on paying the penalty and redemption fine - Import of rough diamonds without KP (Kimberly Process) certificate - The...

Quick Updates: