HRD Exempted From Paying Indian Customs Duty

(IDEX Online News) – Diamond grading lab HRD has been added to the list of gemological laboratories that are exempted from paying customs duties on imported and re-exported polished diamonds.

According to a report from the Gem and Jewelry Export Promotion Council (GJEPC), this notification follows a previous Indian government announcement that three other grading laboratories had been exempted from paying such duties; Gemological Institute of America (GIA), Mumbai; Indian Diamond Institute, Surat and India International Institute of Diamond Grading and Research Pvt. Ltd., Surat.

The laboratories qualify for the exemption as long as certain conditions are met, including the following of procedures and guidelines for the import and re-export of polished diamonds, as well as the furnishing of a bond “undertaking to properly account for the diamonds,” and their re-export within a set time.