TaxTMI 
TaxTMI 
Import of Gold / Gold Dore by Nominated Banks /Agencies/Entities - Clarifications
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....s (ADs) in Foreign Exchange/ All Agencies nominated for import of gold Madam / Sir, Import of Gold / Gold Dore by Nominated Banks /Agencies/Entities - Clarifications Attention of Authorised Persons is drawn to the Reserve Bank's A.P. (DIR Series) Circular No. 25 dated August 14, 2013; and A.P. (DIR Series) Circular No. 73 dated November 11, 2013 on the captioned subject. 2. Governm....
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....import. c) The Nominated Banks / Agencies / Entities may make available gold to the exporters (other than AA/DFIA holders) operating under the Replenishment Scheme. They can resort to import of gold for the purpose, if considered necessary. However, such import will be accounted for separately and will not entitle them for any further import. d) Import of gold in the third lot onwards will b....
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....rough a notification, may include new refiners, and fix licence quantity for them. 4. Authorised Dealers may bring the contents of this circular to the notice of their constituents and customers concerned. 5. The directions contained in this circular have been issued under Section 10(4) and Section 11(1) of the Foreign Exchange Management Act (FEMA), 1999 (42 of 1999), and are without prejud....
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.... be supplied in part or full to domestic entities engaged in jewellery business / bullion traders / banks operating the Gold Deposit Scheme against full upfront payment. In other words, no credit sale of gold in any form will be permitted for domestic use. In case, the Nominated Bank itself is operating the Gold Deposit Scheme, the bank is permitted to use out of 80 kg, a portion for regularising ....