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of <h1>Guidelines for Obtaining a Diamond Imprest Licence: Application, Export Obligations, and Transitional Provisions.</h1> The circular issued by the Director General of Foreign Trade outlines the process and conditions for obtaining a Diamond Imprest Licence for importing cut and polished diamonds. Applicants must submit an application with necessary documentation, including a banker's certificate confirming no outstanding export proceeds beyond six months. Licence holders must achieve a minimum value addition of 10% and fulfill export obligations, with diamonds accounted for by caratage. Licences are non-transferable and must be utilized within the issuance year. An extension of the export obligation period is possible with a penalty. The circular also addresses regularization of defaults and transitional arrangements for licences issued before March 31, 2002.
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