Govt stops import incentives for exporters of gold medallions, coins: Commerce ministry

The government has withdrawn incentives being given to exporters of gold medallions and coins for import of raw material, according to a notice by the commerce ministry

Press Trust of India September 27, 2019 17:15:31 IST
Govt stops import incentives for exporters of gold medallions, coins: Commerce ministry
  • Advance Authorisation shall not be issued where items of export are gold medallions and coins or any jewellery/articles manufactured by fully mechanised process, the Directorate General of Foreign Trade (DGFT) said in a notice

  • An Advance Authorisation is issued to allow duty-free import of inputs, which are physically incorporated in export products

New Delhi: The government has withdrawn incentives being given to exporters of gold medallions and coins for import of raw material, according to a notice by the commerce ministry.

"Advance Authorisation shall not be issued where items of export are gold medallions and coins or any jewellery/articles manufactured by fully mechanised process," the Directorate General of Foreign Trade (DGFT) said in a notice.

An Advance Authorisation is issued to allow duty-free import of inputs, which are physically incorporated in export products.

DGFT is under the commerce ministry.

Updated Date:

also read

Gold price today: 10 grams of 24-carat falls to Rs 51,710; silver at Rs 59,800 per kilo
Business

Gold price today: 10 grams of 24-carat falls to Rs 51,710; silver at Rs 59,800 per kilo

The updated Multi Commodity Exchange (MCX) data reveals that gold futures decreased by 0.93 percent to Rs 50,195.00. Silver futures, which are set to mature on 5 July 2022 slid 1.34 percent and settled at Rs 59,500.00.

Gold price today: 10 grams of 24-carat priced at Rs 52,760; silver at Rs 61,500 per kilo
Business

Gold price today: 10 grams of 24-carat priced at Rs 52,760; silver at Rs 61,500 per kilo

Revised data from Multi Commodity Exchange (MCX) data indicates that gold futures, which are set to mature on 5 August this year, decreased by 0.43 percent to Rs 50,445.00. Silver futures also witnessed a drop by 0.74 percent to settle at Rs 59,867.00.

UAE to suspend export of Indian wheat for four months
World

UAE to suspend export of Indian wheat for four months

The UAE Ministry of Economy said the decision was taken 'in view of the international developments that have affected trade flows'