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of <h1>Indian Government Exempts Industrial Adhesives and Diamond Powder from Customs Duties for Exporters under Diamond Credit Book Scheme</h1> The Central Government of India has issued Notification No. 79/96-Cus, dated October 8, 1996, exempting special industrial adhesives, gums, solutions, and synthetic diamond powder from customs duties. This exemption applies to imports by exporters of cut and polished diamonds under the 'Diamond Credit Book Scheme,' as notified by the Ministry of Commerce. The exemption covers the entire customs duty specified in the First Schedule of the Customs Tariff Act, 1975, the special duty under the Finance (No. 2) Bill, 1996, and the additional duty under section 3 of the Customs Tariff Act, up to 1% of the Free On Board value of the exports.
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