Import of Gold .

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..... Import of Gold . - News and Press Release Dated:- 11-5-2012 - News - Press Information Bureau Government of India Ministry of Finance 11-May-2012 18:01 IST Import of Gold Eligible passengers returning from abroad after a minimum stay of six months were allowed to bring 10 kgs of gold on payment of appropriate customs duty till 17 th April, 2012. This provision was repo .....

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..... rtedly having an adverse impact on the domestic jewellery industry. A representation from All India Gems and Jewellery Trade Federation has been received pointing out the misuse of this facility with a request to reduce the quantity of gold allowed through this channel. Government has reduced the quantity of gold allowed to be brought by such eligible passengers returning from abroad from 10 kg .....

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..... s to 1 kg with effect from 18 th April, 2012. The details of import and export of gold in the last three years is as under: Quantity (in Kg) S.No. Year Import Export 1. 2009-10 850985 22989 2. 2010-11 969736 34590 3. 2011-12 (upto Feb 2012) 986126 138510 NOTE: Figur .....

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..... es for 2011-12 are provisional. This information was given by the Minister of State for Finance, Shri S.S. Palanimanickam in written reply to a question in the Lok Sabha today. ***** DSM/SS/SL - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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