https://www.taxtmi.com/notifications?id=4040 The amendment permits firms with at least three years' trade record and the prescribed average turnover to operate designated Diamond Dollar Account Scheme dollar accounts on an optional basis; others may retain rupee accounts. Dollars in such accounts, from bank finance and export proceeds, are usable only for import/purchase of rough diamonds, purchase of cut and polished diamonds, coloured gemstones and plain gold jewellery locally, import/purchase of gold and repayment of dollar loans, and transfer to the exporter's rupee account. Non-DDA holders may supply cut and polished diamonds to DDA holders, receive dollar payment and convert to rupees within seven days; such supplies count toward export obligations or replenishment licences. en-us Thu, 22 May 2003 00:00:00 +0530 Sun, 20 Jan 2008 19:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=4040 The amendment permits firms with at least three years' trade record and the prescribed average turnover to operate designated Diamond Dollar Account Scheme dollar accounts on an optional basis; others may retain rupee accounts. Dollars in such accounts, from bank finance and export proceeds, are usable only for import/purchase of rough diamonds, purchase of cut and polished diamonds, coloured gemstones and plain gold jewellery locally, import/purchase of gold and repayment of dollar loans, and transfer to the exporter's rupee account. Non-DDA holders may supply cut and polished diamonds to DDA holders, receive dollar payment and convert to rupees within seven days; such supplies count toward export obligations or replenishment licences. Notifications DGFT Thu, 22 May 2003 00:00:00 +0530 https://www.taxtmi.com/notifications?id=4040