The DGFT has set new regulations capping gold imports under the Advance Authorisation Scheme at 100 kg, aimed at compliance and regulatory oversight.
New DGFT Regulations on Gold Import
The Directorate General of Foreign Trade (DGFT) has introduced stringent rules governing gold imports under the Advance Authorisation Scheme, establishing a cap of 100 kg on imports. These rules are intended to enhance compliance and oversight within the trading framework.
Furthermore, the DGFT mandates regular compliance reporting to ensure adherence to these new regulations, highlighting the importance of formal accountability in the importation processes.
Legal advisors and businesses involved in gold imports must familiarize themselves with these new requirements to ensure compliance and to mitigate risks associated with penalties for non-adherence.
