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The Economic Times
The Economic Times
Business

Government tightens rules for duty-free gold imports, caps quantity at 100 kg per licence

Gold AA DGFT

The Directorate General of Foreign Trade (DGFT) has tightened the conditions under which gems and jewellery exporters can import gold duty-free, issuing five new compliance notes under Standard Input Output Norms (SIONs) M1 to M8 for the Gems and Jewellery Product Group, effective immediately.

The move comes a day after the government hiked import duty on gold to 15 per cent from 6 per cent as part of a broader push to rein in a record import bill.

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