TMI BlogMeasures to restrict the import of GoldX X X X Extracts X X X X X X X X Extracts X X X X ..... Measures to restrict the import of Gold - News and Press Release Dated:- 25-7-2018 - News - The Government has introduced the following measures to restrict the import of gold in the country: i. Imposition of restriction on duty free gold imports from the South Korea as allowed under the existing India-Korea CEPA. ii. Imposition of self-use condition on Premiere Trading House and Star ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Trading House authorised to import precious metal (gold) directly from overseas bullion supplier ( DGFT Notification No. 34/2015-20 dated 18.10.2017) . iii. Issuances of Trade Notice by DGFT for grant of licence for import of Gold to the refinery who holds a valid license from BIS (DGFT Trade Notices No.4 dated 21.04.2017 and No. 14 dated 24.08.2017 ). iv. Restriction imposed on export ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of gold jewellery and articles, including medallions and coins (excluding legal tenders) of purity above 22 carats. ( DGFT Notification No. 21/2015-20 dated 14.08.2017 ). The above measures have yielded the desired results with 31.25% reduction in the import of gold and 4.29% reduction in import of gold other precious metal jewellery during the current year (Apr-May 2018) over the correspond ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing period of the previous year. India s import of gold and gold other precious metal jewellery has increased by 22.31% and 727.51% respectively during the year 2017-18 over the year 2016-17. The details of import of gold and gold other precious metal jewellery during last three years and the current year are as below: (Value in US$ millions) Years ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Gold % Change Gold other precious metal jewellery % Change 2015-16 31770.74 -- 706.37 -- 2016-17 27518.03 -13.39 381.63 -45.97 2017-18 33657.2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1 22.31 3158.05 727.51 2017-18 (Apr-May) 8811.89 -- 126.21 -- 2018-19 (Apr-May)* 6058.28 -31.25 120.79 -4.29 Source: DGCI S, Kolkata (*: Provisional) This informatio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n was given by the Minister of State of Commerce and Industry, C. R. Chaudhary, in a written reply in the Rajya Sabha today. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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