Revised Scheme for Import of Gold

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..... Revised Scheme for Import of Gold - News and Press Release Dated:- 23-7-2013 - News - Certain restrictions were imposed on the import of various forms of gold by nominated banks/nominated agencies/ premier or star trading houses/SEZ units/EoUs which have been permitted to import gold for use in the domestic sector. On a review of the above instructions and in consultation with Government of Indi .....

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..... a, it has been decided to rationalize the import of gold in any form/purity including import of gold coins/dore into the country. Nominated banks/ Nominated agencies will ensure that at least one fifth of every lot of import of gold (in any form/purity including import of gold coins/dore) is exclusively made available for the purpose of export. They shall make available gold in any form for dome .....

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..... stic use only to entities engaged in jewellery business/bullion dealers supplying gold to jewellers. Stating this, the Reserve Bank of India has in a notification issued to Nominated banks/ Nominated agencies asked them to ensure that they comply with these instructions while effecting the foreign exchange transactions put through by/for their clients. The instructions will, however, not apply to .....

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..... import of gold by units in the SEZ/EOUs / star trading houses who would import gold only for the purpose of exports, it added. Detailed instructions have been issued ( AP DIR Circular No.15 dated July 22, 2013 ) which is available on RBI website (www.rbi.org.in). Ajit Prasad Assistant General Manager Press Release : 2013-2014/148 - News - Press release - PIB Tax Management India - .....

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..... taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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