India has tightened rules for duty-free gold imports under the advance authorisation scheme, a day after raising customs duties. The DGFT now caps gold imports at 100 kg per licence and requires firms to meet at least 50% of earlier export obligations before receiving further approvals. The government says the scheme risks “price arbitrage” and misuse through quick large shipments. It also introduces mandatory physical inspections for new applicants and adds fortnightly and monthly reporting on import and export activity.
DGFT has tightened rules for duty free gold imports used by gems and jewellery exporters. The update caps imports at 100 kg per licence, requires mandatory facility inspections for new applicants, and demands existing exporters meet 50% of past export obligations. Exporters will also have to submit fortnightly performance reports, boosting government monitoring of compliance.
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