Equity

The government on Thursday imposed a limit of 100 kg on gold imports under the Advance Authorisation scheme, which allows jewellery exporters to import raw or input materials at zero duty. A day after significantly increasing the import duty on precious metals, the government has tightened the conditions for issuing and monitoring advance authorisation for the import of gold. Earlier, there was no limit on gold imports under the scheme. The Advance Authorisation scheme allows the duty-free import of inputs that are incorporated into an export product. In addition to any inputs, packaging material, fuel, oil, and catalyst that are consumed or utilised in the process of production of export product, are also allowed.

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