What is Diamond Imprest Scheme

The Diamond Imprest Authorization (DIA) Scheme permits the import of Natural Cut and Polished Diamonds, including semi-processed, half-cut, and broken diamonds (up to ¼ Carat or 25 Cents each) against an obligation to physically export diamonds with a minimum value addition of 10% in Free Foreign Exchange within the prescribed timeline. Lab-Grown Diamonds (LGDs) are not covered under this scheme.

Eligibility is restricted to Two Star Export House holders or higher, with a minimum annual export performance of USD 15 million in Cut and Polished Diamonds for the last three financial years. Import under DIA is limited to 5% of the average annual export performance over the preceding three years, capped at USD 15 million. The export obligation must be fulfilled within six months from the date of clearance of each import consignment.

Imports under this scheme are exempted from duties, including Basic Customs Duty, Additional Customs Duty, Education Cess, Anti-Dumping Duty, Countervailing Duty, Safeguard Duty, Transition Product Specific Safeguard Duty, Integrated Tax, and Compensation Cess under the Customs Tariff Act, 1975.

The authorization is subject to Actual User and Pre-Import Conditions, meaning imported materials cannot be transferred, even after fulfilling the export obligation. Applications must be submitted online with a digital signature by December of the year following the financial year concerned, in compliance with the Foreign Trade Policy (FTP) 2023, Handbook of Procedures (HBP) 2023, and relevant Customs regulations. Click Here to View Guidelines