Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

Government may change rules on gold imports for star trading houses: Source.


Date: 10-12-2014
Subject: Government may change rules on gold imports for star trading houses: Source
MUMBAI: Government will announce changes as early as this week to a rule mandating so-called star trading houses export 100 per cent of their gold imports, a policy maker with direct knowledge of the upcoming action said on Tuesday.

Government could also announce changes to rules last year mandating that all imports be paid fully with cash margins.

The actions would come in the form of a clarification to the country's surprise move last month to scrap a rule mandating traders export 20 per cent of all gold imports, in what had been called the 80:20 import rule.

The changes to 80:20 had left unclear the fate of "star trading houses," or leading private trading firms, which had been mandated last year to export 100 per cent of their gold imports.

The policy maker added in the clarification India would give these star trading houses "a free hand" without specifying any further.

"What remains is star trading houses, which are allowed to import (gold) only for 100 per cent export. That remains, but that is not what we wanted. We want everyone to have a free hand," the policy maker said.

He declined to be identified because the measure has not been announced yet.

Traders had said they had expected potential clarifications to the 80:20 rule, citing widespread speculation in markets.

India this year has eased some of the restrictions on gold imports it imposed in 2013 when a wide current account trade deficit had sparked the worst currency turmoil since the 1991 balance of payment crisis.

Source : economictimes.indiatimes.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 18-09-2025
Corrigendum
Corrigendum to Notification No. 9/2025 – Central Tax (Rate) dated 17.09.2025

Date: 17-09-2025
Notification No. 13/2025-Central Tax (Rate)
Seeks to amend Notification No. 21/2018- Central Tax (Rate) dated 26.07.2018.

Date: 17-09-2025
Notification No. 14/2025-Central Tax (Rate)
Seeks to notify GST rate for bricks.

Date: 17-09-2025
Notification No. 37/ 2025-Customs
Seeks to amend Notification No.19/2019-Customs dated 06.07.2019

Date: 17-09-2025
Notification No. 38/ 2025-Customs
Seeks to amend Notification No.29/2025-Customs dated 09.05.2025

Date: 17-09-2025
Notification No. 39/2025-Customs
Seeks to amend Notification No.50/2017-Customs, dated 30.06.2017

Date: 17-09-2025
NOTIFICATIONNo. 15/2025 – Central Tax
Seeks to exempt taxpayer with annual turnover less than Rs 2 Crore from filing annual return.

Date: 17-09-2025
NOTIFICATION No. 16/2025–Central Tax
Seeks to notify clauses (ii), (iii) of section 121, section 122 to section 124 and section 126 to 134 of Finance Act, 2025 to come into force.

Date: 17-09-2025
Notification No. 12/2025-Central Tax (Rate)
Seeks to amend Notification No. 8/2018- Central Tax (Rate) dated 25.01.2018.

Date: 17-09-2025
NOTIFICATION No. 14/2025 – Central Tax
Seeks to notify category of persons under section 54(6).



Exim Guru Copyright © 1999-2025 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001