IGST Exemption on import of Gold Compound - UAE CEPA ASEAN agreement

[Bhavesh Suthar]

We are a bullion trader. We are planning to import Gold compound (HSN 28433000) from Dubai/ Indonesia. Under the UAECEPA/ ASEAN agreements, .

1) What are the compliances/ statutory requirements to carry out these imports.

2) After importing, we plan to extract the gold from the compound and sell it in the domestic market. Are there any consequences of doing so.

3) What are the conditions to be fulfilled to claim IGST Refund (Inverted duty structure) and roadblocks if any.

AI Summary

Gold Import Strategy: Navigating Complex Trade Agreements and Regulatory Compliance for Bullion Extraction and Domestic Sales A bullion trader seeks to import gold compound from Dubai or Indonesia under UAE-CEPA or ASEAN agreements, with plans to extract and sell gold domestically. The import requires careful compliance with tariff rate quotas, origin certificates, customs regulations, and GST procedures. Key considerations include obtaining proper documentation, filing end-use declarations, paying applicable taxes, and potentially claiming input tax credit under the inverted duty structure. Strict adherence to regulatory requirements is essential to successfully execute the proposed import and sale strategy.