4.95 — Conditions of Imports & Exports

• i. Imports and exports shall be permitted only through Mumbai Airport. ii. The import is subject to pre-Import condition.

• iii. The export obligation shall be fulfilled exclusively through physical export of Natural Cut and Polished Diamonds, with each diamond weighing no more than ¼ of a Carat (25 Cents). One to one correlation between import and export shall not be required.

• iv. The holder of DIA must achieve a minimum value addition of 10% by realizing in Freely Convertible Currency. Provision of Para 2.52 (d) of FTP 2023, shall not be applicable to this scheme.

• v. Deemed exports are not allowed under this scheme.

• vi. Before clearance of goods through Customs, the holder of Diamond Imprest Authorisation (DIA) shall execute a Bond equal to the export obligation of DIA along with a performance Bank Guarantee of an amount equivalent to the duty foregone, with concerned Customs Authority.

• vii. Only those exports which are made after the date of import, may be accepted towards discharge of export obligation. Shipping Bills with relevant Scheme Code as per Customs Notification need to be endorsed with the Diamond Imprest Authorization Number, to establish co-relation of exports with the DIA issued.