Amendment to Para 4.61 and Para 4.63 of FTP-2023

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....P-2023-reg S.O. 3806 (E) - In exercise of powers conferred by Section 3 and Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 read with paragraph 1.02 of the Foreign Trade Policy, 2023 (as amended from time to time), the Central Government hereby amends Para 4.61 and Para 4.63 of FTP- 2023, with immediate effect, as under: Para No. Exiting Para Revised Para 4.61 An exp....

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....s, may be granted a Diamond Imprest Authorization. Chartered accountant certificate may be submitted in case ITR of the preceding year is not finalized. However, the same shall be submitted by 31st December of the application year. This authorization allows the import of Natural Cut & Polished Diamonds up to 5% of the average annual export performance of Cut & Polished Diamonds over the previous t....

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....Effect of the Notification: The import under DIA shall be exempted from Basic Customs Duty, Additional Customs Duty, Education Cess, Anti- dumping Duty, Countervailing Duty, Safeguard Duty, Transition Product Specific Safeguard Duty, wherever applicable. Exemption from whole of the Integrated Tax and Compensation Cess is not provided. Flexibility has been introduced by permitting submission of a C....