Procedure for import and export of Gold jems and jewellary

[samiuddin ansari]

Sir, my friend is a Goldsmith and engaged in the manufacture of gold Gems and jewellary and registered with GST authorities. He has been doing local business for the last six years, now he wishes to come into the field of import and export as he would be getting purchase order of gold gems and jewellary from the middle east gulf countries. In this regard, we have some queries as to:

(i) What is the procedure to import of Gold Bars (Gold Biscuits)

ii) Whether we will have to procure the Gold bars from local market or import through authorized Govt.agencies.

(iii) Whether we can undertake job-work for some process outside the premises of our manufacturing premises. if it is so, what are the procedures to be followed?

(iv) Whether for export we need to get registered in Customs authorities, if it is so, by virtue of which notification, circular or instructions of Customs or any Central Govt. authorities.

(v) What are our bindings to follow i.e. returns or documents to be submitted to Customs Authorities before and after import or export of Gold gems and jewellary?

We solicit your valuable guidance and suggestion in to the matter, please.

AI Summary

Goldsmith Seeks Guidance on Importing Gold, Job-Work, and Customs Registration for Expanding Jewelry Business A goldsmith seeking to expand into the import and export of gold gems and jewelry from the Middle East has raised several queries about the necessary procedures. These include the process for importing gold bars, whether purchases must be made locally or through government agencies, the feasibility of conducting job-work outside the manufacturing premises, and the need for customs registration for exports. Respondents advise consulting the Foreign Trade Policy, Hand Book of Procedures, Customs and GST laws, and specific government notifications for detailed guidance. Due to limited local expertise, the goldsmith seeks further advice and suggestions.