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Duty exemption sought for synthetic diamonds

TIRUCHI: The Tamil Nadu Synthetic Diamond Manufacturers' Association has urged the Central Government to exempt synthetic diamonds from the customs duty. At present the synthetic diamond manufacturers had to pay customs duty at the rate of 12.75 per cent of the value of the imported goods. This apart, the State Government levied 10.05 per cent towards sales tax. Both taxes crippled the manufacturing industry, a press release from the Association President, G. Thiruvenkatam issued here on Monday said.

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