Govt imposes limits, stricter monitoring on gold imports
New Delhi, May 14 -- The government on Thursday tightened compliance norms for gold imports under the Advance Authorisation scheme, introducing stricter quantity caps, physical verification requirements and periodic reporting obligations amid heightened scrutiny of bullion imports.
In a notification, the Directorate General of Foreign Trade (DGFT) said Advance Authorisation (AA) for import of gold "shall be issued, subject to a maximum permissible quantity limit of 100 kilograms".
Earlier, there was no limit on gold imports under the Advance Authorisation (AA) scheme-which permits duty-free import of gold for export purposes.
According to a government official, the tighter norms were introduced after import duty on gold was increased t...
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