I plan to export some diamonds for ring setting. After processing, they will be re-imported into Singapore in the form of rings. Can GST relief be granted on re-importation of the items?

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Accepted Answer

GST import relief may be granted on exported diamonds which have not undergone any further processing or manipulation outside Singapore upon their exportation. Hence, GST is payable on the diamond rings at the time of re-importation as illustrated in this case.

The Cost, Insurance and Freight (CIF) value of the diamond rings should include the value of the diamonds and all other charges incidental to the processing or manipulation outside Singapore. You are advised to obtain an In-Payment (GST) permit to account for the re-importation of the diamonds.

I plan to export some diamonds for ring setting. After processing, they will be re-imported into Singapore in the form of rings. Can GST relief be granted on re-importation of the items?

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