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Diamond Imprest License
August 21 , 2024
95 days
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- The Ministry of Commerce and Industry has announced the introduction of the Diamond Imprest Licence for Gems and Jewellery Sector.
- It allows import duty exemption on cut and polished diamonds up to a specified limit.
- The gems and jewellery exporters were demanding for this licence.
- The licence allows eligible exporters to import cut and polished diamonds, including semi-processed, half-cut, and broken diamonds.
- Exporters can import diamonds up to 5 per cent of their average turnover from the past three years, with a requirement to add 10 per cent value.
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