Customs - Cut and polished Diamonds - Exemption
AS per Notification No. 9/2012-Cus dated 09.03.2012, cut and polished diamonds re-imported by gems and jewellery exporters are exempted. One of the conditions is that Cut and polished diamonds so re-imported shall match with corresponding diamonds mentioned in the invoice at the time of exportation in terms of value, height, circumference and weight . Now a variance of ± 1mm/cent is allowed.
Notification No. , Dated: April 18, 2012