Advance remittance for gold and silver imports is prohibited through Authorised Dealers, subject to contrary foreign-exchange authorisation.

Import of gold and silver is subject to a prohibition on advance remittance by an Authorised Dealer. The restriction applies notwithstanding the general import and export regulations, while remaining subject to any contrary provision in the Act, Rules, Regulations or Directions made thereunder. Advance payment through an Authorised Dealer for import of gold or silver is therefore not permitted unless otherwise authorised under the applicable foreign-exchange framework.

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