Gold import restrictions: consignment limited to exporters; LCs require full cash margin and imports on payment only. Consignment imports of gold by nominated banks and agencies are allowed only to meet exporters' genuine needs. All Letters of Credit for gold imports must be on 100 per cent cash margin, and all imports must be on Documents against Payment; Documents against Acceptance are not permitted. The instructions are effective immediately and issued under the Foreign Exchange Management Act, 1999.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Gold import restrictions: consignment limited to exporters; LCs require full cash margin and imports on payment only.
Consignment imports of gold by nominated banks and agencies are allowed only to meet exporters' genuine needs. All Letters of Credit for gold imports must be on 100 per cent cash margin, and all imports must be on Documents against Payment; Documents against Acceptance are not permitted. The instructions are effective immediately and issued under the Foreign Exchange Management Act, 1999.
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