Import restrictions on gold and silver: advance remittances generally barred, limited exchange facilitated imports permitted under strict conditions. A general prohibition on advance remittances by Authorised Dealers for import of gold and silver is subject to specified exceptions: nominated banks/agencies may import on consignment, qualified jewellers and eligible TRQ holders may import through authorised exchange mechanisms subject to upfront domestic sale rules and AD bank due diligence. Trade-credit usance for precious metal and gemstone imports is limited to 90 days, with constrained clean credit extensions for diamonds subject to reporting and conditions. AD banks must ensure documentation (Bill of Entry), create outward remittance messages, match ORMs with BoEs, and submit prescribed returns in the Centralised Information Management System.
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Import restrictions on gold and silver: advance remittances generally barred, limited exchange facilitated imports permitted under strict conditions.
A general prohibition on advance remittances by Authorised Dealers for import of gold and silver is subject to specified exceptions: nominated banks/agencies may import on consignment, qualified jewellers and eligible TRQ holders may import through authorised exchange mechanisms subject to upfront domestic sale rules and AD bank due diligence. Trade-credit usance for precious metal and gemstone imports is limited to 90 days, with constrained clean credit extensions for diamonds subject to reporting and conditions. AD banks must ensure documentation (Bill of Entry), create outward remittance messages, match ORMs with BoEs, and submit prescribed returns in the Centralised Information Management System.
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