India Extends Duty-Free Time Limit for Certain Exports, Reimports of Diamonds
India amended its Foreign Trade Policy to change the time frame for which certain exporters benefit from duty-free treatment, the country’s Directorate General of Foreign Trade said in a June 26 notice. The change extends for an additional three months…
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the current three months from the date of export for certain duty-free exports and reimports of cut and polished diamonds, in cases in which the “re-import period is expiring” between Feb. 1 and July 31, 2020, the notice said. India made the change to help mitigate impacts of the COVID-19 pandemic, the notice said.