The Ministry of Finance (MoF) on October 23, 2024, issued a notification regarding the import of goods of the description Rough diamonds (industrial or non-industrial).
The notification no. 50/2017-Customs, dated June 30, 2017 of the Government of India, Ministry of Finance, Department of Revenue, allowed duty free import of goods of the description “Rough diamonds (industrial or non-industrial)” falling within Chapter 71 as specified against serial number (S.No.) 345 of the said notification.
The Central Government, hereby directs that the whole of the duty of customs leviable under the First Schedule of the Customs Tariff Act, 1975 read with the said notification, if any payable on the import of the said goods, during the period from 1st July, 2017 to 1st February, 2022, but for the said practice, shall not be required to be paid in respect of import of the said goods.
[Notification No. 70/2024–Customs (N.T)]
