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Centre moves to restore gold import tax exemption for banks after IGST glitch
Economy
Published on 8 May 2026
A tax benefit vanished by mistake and shipments restarted
The Centre is expected to issue a rectification order within 48 to 72 hours to reinstate the gold import tax exemption for banks. Industry body IBJA says the benefit was accidentally withdrawn through a notification, triggering an IGST-related disruption. Shipments have resumed as the government works to correct the error and restore the earlier relief.
- Centre to issue a rectification order in 48 to 72 hours
- Gold import tax exemption for banks was accidentally withdrawn
- An IGST glitch disrupted shipments, which have now resumed
- IBJA says the benefit should be restored through correction
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times