The Central Board of Indirect Taxes & Customs (CBIC) has approved the setting up of a customs house at the Surat Diamond Bourse (SDB).
The customs house, occupying an area of 40,000 square feet, is now ready for use at SDB.
Furthermore, SDB was launched as the custodian on the Indian Customs EDI System (ICES) platform,” the SDB statement said.
As Surat International Airport is not authorised for international cargo, SDB requested space allocation for a strong room from Mumbai International Airport Ltd and sought transhipment approval from Mumbai Customs.
Customs commissioner of Mumbai approved SDB as a customs custodian. Once customs clearance is granted at SDB, gem and jewellery consignments can be sent directly to Mumbai airport, informed SDB officials.
Lalji Patel, vice-president of the SDB committee, stated, “The customs house approval will make it easier for the diamond traders to import and export from SDB. This will give a major boost to the diamond business of the city. It used to take a couple of days to process via Mumbai.”
GJEPC has established a Special Notified Zone (SNZ) at SDB. This initiative aims to further facilitate the direct procurement of diamonds brought to the SNZ for viewing by mining companies. According to recent budget announcements, the Safe Harbour Rule will allow foreign companies to sell rough diamonds in SNZ at globally competitive prices.
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