Direct Tax
Consulting
ESG Advisory
Indirect Tax
Growth Advisory
Internal Audit
BFSI Audit
Industry Audit
Valuation
RBI Services
SEBI Services
IRDA Registration
AML Advisory
IBC Services
NBFC Compliance
IRDA Compliance
Finance & Accounts
Payroll Compliance Services
HR Outsourcing
LPO
Fractional CFO
General Legal
Corporate Law
Debt Recovery
Select Your Location
The Central Board of Excise and Customs Directorate General of Export Promotion under the Ministry of Finance, Government of India on 4th September 2013 notified regarding the procedure to be followed by the agencies for supply of duty-free gold to the exporters. The fresh guidelines were issued after the Board’s circular in the year 2009. The circular issued by it in 2013 shall supersede the one of 2009 in respect of gold import. However, the import of silver and platinum will continue to be governed by the 2009 customs circular.
Table of Contents
The entities notified by the Directorate General of Foreign Trade (DGFT) that will be permitted to import gold as per the RBI circular are as follows-
The import of gold by the aforementioned agencies shall be subject to the following conditions:
The prescribed procedure for import of gold is as follows-
Under Rule 29(5) of the SEZ Rules, the SEZ may import precious goods (Gold, silver, platinum or gems and Jewellery) as personal baggage through an authorized passenger in the following way-
The SEZ units have a benefit of zero gold import duty; therefore, they are able to increase gold jewellery export phenomenally. The import of gold in DTA attracts 10% customs duty, and additionally, the exporter and jewellery manufactures have to pay GST as well. However, jewellery exported from DTA is non-competitive, whereas jewellery exported from SEZ shall withstand international competition because of its zero duty structure.
Also, Read: How to Setup an Import Export Business in India: A Guide for Entrepreneurs.
A joint venture is a strategic business arrangement in which two or more companies collaborate...
With the rising inflation rates and various other economic factors, wealthy Americans are incre...
Before approaching the new suppliers or any other third parties, you should always go for the v...
With the increasing landscape of Fintech Companies, it is increasingly vital that fintech compl...
This blog gives a detailed description through an audit report for industrial waste by examinin...
Are you human?: 9 + 8 =
Easy Payment Options Available No Spam. No Sharing. 100% Confidentiality
If you wish to set up a company which deals in import export business then you should consider reading this article...
30 Apr, 2022
The Director General of Foreign Trade recently introduced the online e-tariff rate quota system for imports. Applic...
12 May, 2021
Chat on Whatsapp
Hey I'm Suman. Let's Talk!