Directorate General of Foreign Trade (DGFT) has issued a notification amending the Foreign Trade Policy (FTP) to modify regulations for the Diamond Imprest Authorization. The amended rules provide that, exporters applying for the authorization can now submit a Chartered Accountant’s certificate if their latest Income Tax Return (ITR) is not yet finalized, provided they submit proof of the ITR by 31st December of the application year. It also removes the exemption from Integrated Tax and Compensation Cess for imports under this authorization. Imports will continue to be exempt from various other duties, including Basic Customs Duty and Anti-dumping Duty.