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of <h1>Central Government Updates Customs Notifications to Align with New Foreign Trade Policy, Affecting Jewelry and Diamond Industry Imports</h1> The Central Government has amended various customs notifications in alignment with the new Foreign Trade Policy effective from September 1, 2004, to March 31, 2009. Key changes include the substitution of 'Export and Import Policy' with 'Foreign Trade Policy' across several notifications. Specific amendments involve exemptions on customs duties for certain imported goods used in jewelry and diamond manufacturing, with conditions tied to export performance. The notifications also clarify definitions and procedural requirements for exporters, including Star Export House status and depreciation rates for capital goods. These amendments aim to facilitate trade and compliance with the updated policy framework.
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