The Directorate General of Foreign Trade (DGFT) has implemented new regulations for gold imports under the Advance Authorisation Scheme, capping imports at 100 kg and introducing mandatory compliance reporting.
New Regulations for Gold Import Under Advance Authorisation Scheme
The Directorate General of Foreign Trade (DGFT) has introduced stricter rules governing the import of gold under the Advance Authorisation Scheme. As per the latest notification, the import limit has been set to a maximum of 100 kg.
This regulation mandates importers to provide regular compliance reports, thereby intending to enhance transparency and accountability in the sector. The move aims to streamline gold import procedures while ensuring adherence to regulatory standards.
Such changes are designed to mitigate risks associated with excessive imports and to monitor the trade flows more effectively. These regulations are likely to impact various stakeholders in the gold trading market.
Legal practitioners advising clients involved in gold imports must remain vigilant regarding these changes to ensure compliance and to help navigate the evolving regulatory landscape.
