https://www.taxtmi.com/news?id=14204 Rising gold imports contributed to high trade and current account deficits in 2011-13, prompting the Government to raise customs duty and the Reserve Bank to introduce an 80:20 import allocation scheme for nominated banks and agencies to rationalise gold imports; these measures, together with export-promotion steps and a fall in crude oil prices, were associated with a decline in the trade deficit in 2013-14 and contained increases in 2014-15 before the scheme's withdrawal in November 2014. Customs seizures and case numbers for gold rose in recent years, reflecting enforcement activity. en-us Wed, 18 Mar 2015 15:33:30 +0530 Wed, 18 Mar 2015 15:33:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=14204 Rising gold imports contributed to high trade and current account deficits in 2011-13, prompting the Government to raise customs duty and the Reserve Bank to introduce an 80:20 import allocation scheme for nominated banks and agencies to rationalise gold imports; these measures, together with export-promotion steps and a fall in crude oil prices, were associated with a decline in the trade deficit in 2013-14 and contained increases in 2014-15 before the scheme's withdrawal in November 2014. Customs seizures and case numbers for gold rose in recent years, reflecting enforcement activity. News - Wed, 18 Mar 2015 15:33:30 +0530 https://www.taxtmi.com/news?id=14204