G&J industry takes a sigh of relief as re-import of certified diamond extended for 3 months period

In a major relief to the Indian diamond industry, the Central Board of Indirect Taxes And Customs, Ministry of Finance, Department of Revenue, Government of India, at the behest of the Gem and Jewellery Export Promotion Council (GJEPC), announced an extension of three months on certified diamond reimports in an official notification.

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The provision stated, “Provided that for the cases where the last date of re-import falls between 1st February 2020 and the 31st July 2020, the last date stands extended by three months”