India caps duty-free gold imports under Advance Authorisation at 100 kg

India tightens gold import rules, capping imports at 100 kg under the Advance Authorisation scheme that lets jewellery exporters import raw materials at zero duty.

The government has tightened the conditions for issuing and monitoring advance authorisation for the import of gold. Earlier, there was no limit on gold imports under the scheme.

Importers must fulfil 50 per cent export obligation before fresh licences as government tightens gold import monitoring norms

A day after significantly increasing the import duty on precious metals, the government on Thursday imposed a limit of 100 kg on gold imports under the Advance Authorisation scheme, which allows jewellery exporters to import raw or input materials at zero duty. The government has tighetend conditons for the issuance and monitoring of advance authorisation for import of gold. Earlier, there was no limit on gold imports under the scheme. The Advance Authorisation scheme allows the duty-free import of inputs that are incorporated into an export product. In addition to any inputs, packaging material, fuel, oil, and catalyst that are consumed or utilised in the process of production of export product, are also allowed. "AA for import of gold shall be issued, subject to a maximum remissible quantity of 100 kilograms," the DGFT said in a public notice. It added that in case of application for Advance Authorisation by a first-time applicant, a mandatory physical inspection of the applicant

Govt caps dutyfree gold imports at kg under Advance Authorisation scheme

The Directorate General of Foreign Trade said Advance Authorisation for import of gold “shall be issued, subject to a maximum permissible quantity limit of 100 kilograms.”