Govt. of India: Diamond imports under DIA scheme are exempted from tax, comp cess

The government on Tuesday said imports under the Diamond Imprest Authorisation (DIA) scheme are exempted from payment of the integrated tax and compensation cess.

The government in January introduced this scheme, which allows duty-free import of cut and polished diamonds up to a specified limit, to boost exports and enhance value addition.

“The import under DIA shall also be exempted from payment of the integrated tax and compensation cess,” the Directorate General of Foreign Trade (DGFT) said in a notification.