https://www.taxtmi.com/acts?id=45725 Safe harbour rules permit a foreign diamond-mining company that opts in to treat income from sale of raw diamonds in a notified special zone under a specified tax regime. "Gross receipts" encompass amounts paid or payable and amounts received or deemed received for such sales. "Raw diamonds" are limited to uncut or simply worked stones that are not conflict diamonds, must be accompanied by a Kimberley Process Certificate issued by the exporting country, and fall within the applicable customs tariff classification. The rules apply to the previous year when the option is exercised. en-us Mon, 02 Dec 2024 11:32:03 +0530 Thu, 05 Dec 2024 11:32:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=45725 Safe harbour rules permit a foreign diamond-mining company that opts in to treat income from sale of raw diamonds in a notified special zone under a specified tax regime. "Gross receipts" encompass amounts paid or payable and amounts received or deemed received for such sales. "Raw diamonds" are limited to uncut or simply worked stones that are not conflict diamonds, must be accompanied by a Kimberley Process Certificate issued by the exporting country, and fall within the applicable customs tariff classification. The rules apply to the previous year when the option is exercised. Act-Rules Income Tax Mon, 02 Dec 2024 11:32:03 +0530 https://www.taxtmi.com/acts?id=45725