CBIC notifies Special Notified Zone at Surat Diamond Bourse for rough diamond trade activities.
The Central Board of Indirect Taxes and Customs (CBIC) approved a Special Notified Zone at the Surat International Diatrade Centre (SIDC) within the Surat Diamond Bourse. The zone permits duty-free viewing, auction, sale, and re-export of rough diamonds.
This initiative promotes India as a global diamond trading hub by providing a regulated, bonded environment for high-value transactions. It aligns with export promotion and compliance-monitoring strategies.
Legal practitioners should advise stakeholders on compliance frameworks within notified zones, including record-keeping, access controls, and export documentation protocols.
Practice Areas:customs
