IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
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Inception date: 06 Sep 2013 | Removal date: open ended
Still in force

Import licensing requirement

 On 6 September 2013, the Government of India, vide Notification No. 40 (RE-2013) / 2009-2014, declared that the import of gold into the country under Advance Authorization or Duty Free Import Authorization schemes can follow a matching export of gold from the country, or vice versa. 
RBI Regulations require that each import of gold into India under the above-mentioned schemes be matched by a corresponding export, to prevent diversion of gold for domestic use. By the Notification dated 6 September 2013, the Ministry of Commerce has discarded some interpretations of the Regulations that suggest that imports must be followed by exports in a sequence.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

413 Basic precious metals & metals clad with precious metals
7108 Gold (including gold plated with platinum) unwrought or in semimanufactured forms, or in powder form.
710812 Other unwrought forms
710813 Other semimanufactured forms

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