[To be published in Gazette of India Extraordinary Part-II, Section-3, Sub-section (II)[
Government of India
Ministry of
Commerce & Industry
Department of Commerce
Directorate General of Foreign Trade
Vanijya Bhawan, New Delhi
Notification No. 25/2025-26
New Delhi, Dated: 19 August 2025
Subject: Amendment to Para 4.61 and Para 4.63 of FTP-2023-reg
In exercise of powers conferred by Section 3 and Section 5 of the 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 amends Para 4.61 and Para 4.63 of FTP-2023, with immediate effect, as under:
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Para No. |
Exiting Para |
Revised Para |
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4.61 |
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 average annual export performance of Cut & Polished Diamonds over the previous three financial years subject to a maximum value of US$ 15 million. |
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. Chartered accountant certificate may be submitted in case ITR of the preceding year is not finalized. However, the same shall be submitted by 31st December of the application year. This authorization allows the import of Natural Cut & Polished Diamonds up to 5% of the average annual export performance of Cut & Polished Diamonds over the previous three financial years subject to a maximum value of US$ 15 million. |
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4.63 |
Imports under Diamond Imprest Authorisation are exempted from payment of Basic Customs Duty, Additional Customs Duty, Education Cess, Anti- dumping Duty, Countervailing Duty, Safeguard Duty, Transition Product Specific Safeguard Duty, wherever applicable. Such, imports are also exempt from whole of the Integrated Tax and Compensation Cess leviable under sub-section (7) and subsection (9) respectively, of section 3 of the Customs Tariff Act, 1975 (51 of 1975). |
Imports under Diamond Imprest Authorisation are exempted from payment of Basic Customs Duty, Additional Customs Duty, Education Cess, Anti- dumping Duty, Countervailing Duty, Safeguard Duty, Transition Product Specific Safeguard Duty, wherever applicable. |
Effect of the Notification: The import under DIA shall be exempted from Basic Customs Duty, Additional Customs Duty, Education Cess, Anti- dumping Duty, Countervailing Duty, Safeguard Duty, Transition Product Specific Safeguard Duty, wherever applicable. Exemption from whole of the Integrated Tax and Compensation Cess is not provided. Flexibility has been introduced by permitting submission of a Chartered Accountant certificate in place of the latest Income Tax Return, if it is not yet filed, with the condition that the proof of submission of said ITR must be submitted by 31st December of the application year.
This issues with the approval of the Minister of Commerce & Industry.
(Ajay Bhadoo)
Director General of Foreign Trade
&
Addl. Secretary to the Government of India
e-mail:
dgft@nic.in
(Issued from File No. 01/94/180/152/AM20/PC-4)