https://www.taxtmi.com/circulars?id=65621 Qualified Jewellers may import gold through IFSCA authorised exchanges using exchange approved payment mechanisms; advance remittances must be supported by sale contracts or irrevocable purchase orders, used only for bona fide imports and not leveraged, with unutilised amounts refunded if imports do not materialise. AD banks must perform due diligence, ensure complete customs documentation and matching of Outward Remittance Messages with Bills of Entry, and report transactions through prescribed monitoring and reporting systems. IFSCA will vet exchanges and ensure systems prevent misuse of advance remittances. en-us Wed, 25 May 2022 00:00:00 +0530 Wed, 25 May 2022 18:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=65621 Qualified Jewellers may import gold through IFSCA authorised exchanges using exchange approved payment mechanisms; advance remittances must be supported by sale contracts or irrevocable purchase orders, used only for bona fide imports and not leveraged, with unutilised amounts refunded if imports do not materialise. AD banks must perform due diligence, ensure complete customs documentation and matching of Outward Remittance Messages with Bills of Entry, and report transactions through prescribed monitoring and reporting systems. IFSCA will vet exchanges and ensure systems prevent misuse of advance remittances. Circulars FEMA Wed, 25 May 2022 00:00:00 +0530 https://www.taxtmi.com/circulars?id=65621