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Gold

India

Checked 2026-09-29 · Version r2 · Replaces version r1 · Reviewed

Public law and official guidance, published as research. Not legal, tax or financial advice.

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Large consumer market. Gold (HS 7108) is Restricted: imported only by RBI-authorised nominated banks and DGFT nominated agencies (HHEC, MSTC, Diamond India), by IFSCA-notified Qualified Jewellers and India-UAE CEPA TRQ holders through IIBX (GIFT IFSC), and as dore by refiners as actual users (RBI Master Direction C.11.1; Notification 45/2025-Customs condition 22). Import duty on gold bars from 13 May 2026: basic customs duty 10% (Notification 45/2025-Customs S. No. 196 as amended by 15/2026) plus AIDC (11/2021-Customs Sl. No. 15D set at 5% by 16/2026), SWS exempt, 15% combined, charged on the CBIC tariff value for serial-numbered bars (US$ 1373 per 10 g from 16 Sep 2026, 75/2026-Customs (N.T.)); it was 5% + 1% = 6% from 24 July 2024. CEPA in-quota gold (TRQ 200 t for FY 2026-27) pays 10% + 4% from 13 May 2026. IGST 3% (Notification 9/2025-Integrated Tax (Rate)). Dealers in precious metals with cash deals of Rs 10 lakh or more are PMLA reporting entities; cash receipts of Rs 2 lakh or more are barred (Income-tax Act 2025 s.186); suspicious transactions are reported "promptly" (PMLR r.8(2)). Hallmarking is mandatory for gold jewellery in 385 notified districts (Order of 2020 as amended to S.O. 2117(E), 28 Apr 2026).

How sure this page is

  • Primary law 55
  • Official guidance 38
  • Secondary 16
  • Unverified 2
  • No confidence level recorded 8
  • Researcher's note 64
  • Blocked 2
  • Not recorded 80
  • Text 34
  • OCR 1
  • Not stated 47

Regulators

  • Bureau of Indian Standards (BIS)

    Mandatory hallmarking of gold jewellery and artefacts (IS 1417), jeweller registration, recognition of Assaying and Hallmarking Centres, HUID

    Website
    https://www.bis.gov.in
    No confidence level recordedNot recorded

  • Central Board of Direct Taxes (Income Tax Department)

    Income-tax law: cash-receipt limit (Income-tax Act 2025 s.186, from 1 Apr 2026; formerly s.269ST of the 1961 Act)

    Website
    https://incometaxindia.gov.in
    No confidence level recordedNot recorded

  • Central Board of Indirect Taxes and Customs (CBIC) - Customs

    Customs clearance (Bill of Entry), BCD/AIDC/SWS and IGST collection on import, baggage; through its Directorate General of Audit, AML/CFT regulator of dealers in precious metals and stones

    Website
    https://www.cbic.gov.in
    No confidence level recordedNot recorded

  • Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industry

    ITC(HS) import policy (Free/Restricted), nominated agencies, India-UAE CEPA TRQ allocation, Advance Authorisation, import licences for restricted items

    Website
    https://www.dgft.gov.in
    No confidence level recordedNot recorded

  • Directorate of Revenue Intelligence (DRI)

    Anti-smuggling enforcement; publishes Smuggling in India reports

    Website
    https://dri.nic.in
    No confidence level recordedNot recorded

  • Financial Intelligence Unit - India (FIU-IND)

    Receives CTRs/STRs from reporting entities incl. dealers in precious metals via FINGate 2.0

    Website
    https://fiuindia.gov.in
    No confidence level recordedNot recorded

  • International Financial Services Centres Authority (IFSCA)

    Regulator of IIBX, its depository and vaults in GIFT IFSC; recognises Qualified Jewellers and Qualified Suppliers

    Website
    https://ifsca.gov.in
    No confidence level recordedNot recorded

  • Reserve Bank of India (RBI)

    FEMA directions to AD Category-I banks: gold imported only by nominated banks/agencies (consignment) and by QJs/TRQ holders through IIBX; domestic sale against upfront payment; trade credit max 90 days; advance remittance for IIBX purchases max 11 days; gold import returns R132 (monthly) and R133 (half-yearly) via CIMS; authorises banks to import gold (HBP Appendix 4B)

    Website
    https://www.rbi.org.in
    No confidence level recordedNot recorded

Laws

  • Bureau of Indian Standards Act, 2016

    s.14 (Hallmark on notified precious metal articles; assaying and hallmarking centres), s.15 (no import, sale or exhibition of notified articles except under certification), ss.16-17 (compulsory use of the Standard Mark), s.29(2) (imprisonment up to one year or fine of at least Rs 1 lakh up to five times the value)

    Kind
    Act
    Primary lawNot recorded

  • India-UAE Comprehensive Economic Partnership Agreement (2022)

    Art. 2.4 (tariff elimination per Annex 2A; MFN cuts pass to originating goods, art. 2.4.3); Chapter 3 rules of origin: PSR for 710812 "Certified UAE/ India good delivery gold bars in different denomination" (Annex 3B); direct transport (art. 3.12); certificate of origin issued by a competent authority, valid 12 months, one import (arts 3.13-3.14)

    Kind
    Treaty
    Primary lawNot recorded

    Researcher's note: [not-read] Annex 2A (India's tariff schedule, incl. the gold TRQ commitment) and the TRQ side letters are absent from the held copy (cover pages only); the TRQ as applied is read in Notification 22/2022-Customs.

  • Notification No. 11/2018-Customs (2 Feb 2018, G.S.R. 114(E)): exemption from Social Welfare Surcharge, as amended

    SWS exemption for gold: first by Notification 34/2022-Customs (all goods of heading 7108, from 30 Jun 2022); 16/2026 now lists 7107, 7108, 7109, 7111, 7112 in Sl. No. 1 of 11/2018

    Kind
    Circular
    In force from
    2018-02-02
    Primary lawNot recorded

  • July 2024 customs changes on precious metals: Notifications 30/2024 (BCD, amends 50/2017), 31/2024 (CEPA TRQ), 32/2024 (AIDC), 33/2024 (57/2000), in force 24 Jul 2024

    Gold bar duty 6% (BCD 5% + AIDC 1%), dore 5.35%; superseded for BCD by 45/2025 (1 Nov 2025, same 5%) and for all rates by 15/2026-18/2026 (13 May 2026)

    Citation
    Notifications No. 30/2024, 31/2024, 32/2024 and 33/2024-Customs, 23 Jul 2024
    Kind
    Circular
    In force from
    2024-07-24
    Repealed on
    2026-05-13
    Primary lawNot recorded

    Researcher's note: [unconfirmed] 30/2024 sets S. Nos. 354-357B of 50/2017 to 5% without naming the goods (50/2017 not held); that the gold-bar line is among them rests on the Budget annex Table D.1 (gold bar 15 -> 6). 32/2024 and 31/2024 read in the official CBIC portal but originals not held.

  • Customs Notifications 15/2026, 16/2026, 17/2026 and 18/2026-Customs (12 May 2026, in force 13 May 2026)

    BCD on gold bars and dore raised from 5% to 10%, AIDC Sl. 15D to 5% and 15B to 4.35%, CEPA in-quota gold to 10% + 4%

    Citation
    15/2026 amends 45/2025-Customs (TABLE I S. Nos. 192-197, 200A, 202, 203); 16/2026 amends 11/2018 (SWS) and 11/2021 (AIDC Sl. Nos. 15A-15L); 17/2026 amends 57/2000 (Sl. No. 1 to 10%); 18/2026 amends 22/2022 TABLE III S. No. 12 (in-quota 10, AIDC 4); s.25(1) Customs Act 1962, s.3(12) Customs Tariff Act 1975, s.110 Finance Act 2018, s.124 Finance Act 2021
    Kind
    Circular
    In force from
    2026-05-13
    Primary lawNot recorded

    Researcher's note: Official originals held since 2026-09-29 (CBIC portal). No later amendment of these entries in the CBIC list of 2026 tariff notifications to No. 31/2026-Customs (23 Sep 2026).

  • Notification 22/2022-Customs (30 Apr 2022, G.S.R. 328(E)): India-UAE CEPA preferential tariff; TABLE III tariff rate quotas incl. gold (S. No. 12)

    Gold TRQ: 120 t (2022), 180 t (from 1 Apr 2025, 21/2025), 200 t (from 1 Apr 2026, 09/2026); in-quota BCD/AIDC 6.6/2.5 (2022), 4/1 (24 Jul 2024, 31/2024), 10/4 (13 May 2026, 18/2026); conditions 1-2: DGFT TRQ allotment debited in ICES, IEC of nominated agency/IFSCA and GSTIN of the jewellery manufacturer on the authorisation

    Citation
    Notification No. 22/2022-Customs
    Kind
    Circular
    In force from
    2022-05-01
    Primary lawNot recorded

    Researcher's note: Principal held (as issued, official). 21/2025 (TRQ FY 2025-26) read in the official portal in Chrome, not held; TABLE III as now in force is held in 09/2026 and 18/2026.

  • Notification No. 45/2025-Customs (24 Oct 2025, G.S.R. 781(E)): consolidated effective BCD and IGST rates; supersedes 31 notifications incl. 50/2017-Customs

    TABLE I S. No. 192 gold dore (gold content not over 95%; conditions 3 and 22), 194 eligible passengers' gold (condition 23), 196 all other 7108, 198 IGST nil for banks in Lists 13-14 and entities in List 15, 202-203 other chapter 71 goods and findings

    Citation
    s.25(1) Customs Act 1962; s.3(12) Customs Tariff Act 1975
    Kind
    Circular
    In force from
    2025-11-01
    Primary lawNot recorded

  • Notification No. 57/2000-Customs (8 May 2000, G.S.R. 413(E)): gold, silver and platinum imported for the exhibitions and export-against-supply-by-nominated-agencies schemes, as amended

    Kind
    Circular
    In force from
    2000-05-08
    Primary lawNot recorded

    Researcher's note: [unconfirmed] The TABLE later inserted into 57/2000 was not read in its current form: the held copy is the notification as issued; its Sl. No. 1 rate is known from the amending notifications (33/2024 held: 9.35% -> 4.35%; 17/2026 held: 4.35% -> 10%).

  • Customs Act, 1962 (52 of 1962)

    s.11 (prohibitions), s.12 (dutiable goods), s.14(2) (tariff values fixed by the Board, used for gold), s.25 (exemption notifications), s.46 (bill of entry), ss.77 and 79 (baggage declaration; Baggage Rules), s.111 (confiscation), s.123 (burden of proof on the person from whom gold is seized); PMLA Schedule lists s.135 (Part A) and s.132 (Part B)

    Kind
    Act
    Primary lawNot recorded

    Researcher's note: Held as the CBIC consolidation to the Finance Act 2022; amendments by the Finance Acts 2023-2026 not incorporated (laws/_work/in-requests.md).

  • DGA (CBIC) AML/CFT Guidelines for Dealers in Precious Metals and Precious Stones (04.05.2023)

    Kind
    Guideline
    In force from
    2023-05-04
    Official guidanceNot recorded

  • DGFT Notification 02/2026-27 (1 Apr 2026): CTH 7113 jewellery moved from Free to Restricted

    Citation
    Notification No. 02/2026-27
    Kind
    Circular
    In force from
    2026-04-01
    SecondaryNot recorded

  • DGFT Notification 03/2026-27 (2 Apr 2026): articles of precious metal, clad items, non-legal-tender coins moved to Restricted

    Citation
    Notification No. 03/2026-27
    Kind
    Circular
    In force from
    2026-04-02
    SecondaryNot recorded

    Researcher's note: Only one secondary source; exact ITC(HS) codes not seen.

  • DGFT Notification 08/2025-26 (19 May 2025): import policy and policy conditions of Chapter 71 ITC(HS) codes in sync with Finance Act 2025

    Unwrought/semi-manufactured gold made Restricted (nominated agencies, QJs, TRQ holders via IIBX); dore importable by refiners under actual-user condition; new 99% platinum line

    Citation
    Notification No. 08/2025-26
    Kind
    Circular
    In force from
    2025-05-19
    Official guidanceBlockedNot recorded

    Researcher's note: [blocked] Notification text not read (DGFT 403). IFSCA consolidated circular cl. 1 (read in full) states that DGFT notifications 49/2015-2020, 35/2023 and 08/2025-26 permit Qualified Jewellers to import gold under ITC(HS) 71081210, 71081290 and 71189000 through IIBX; other content from press summaries [summary].

  • DGFT Notification 44/2023 (20 Nov 2023): import policy condition of gold HS 71081200 - TRQ holders may import through IIBX

    Citation
    Notification No. 44/2023
    Kind
    Circular
    In force from
    2023-11-20
    Official guidanceBlockedNot recorded

    Researcher's note: [blocked] Subject line only (DGFT listing, 2026-09-22); DGFT site returns 403 to the Mac host and Chrome; notification text not read.

  • DGFT Public Notice 11/2026-27 (14 May 2026): notes under SIONs M-1 to M-8 - 100 kg cap on gold Advance Authorisations

    Citation
    Public Notice No. 11/2026-27, F. No. 01/94/180/015/AM27/PC-4
    Kind
    Circular
    In force from
    2026-05-14
    SecondaryNot recorded

    Researcher's note: Text reproduced by TaxGuru; DGFT PDF not opened.

  • FEMA 1999 and RBI Master Direction - Import of Goods and Services (as updated 12 Jan 2026)

    Paras C.11 (gold) and C.7 (evidence of import)

    Kind
    Guideline
    Official guidanceNot recorded

    Researcher's note: FEMA 1999 held (consolidated to Act 50 of 2019; FIFP copy, indiacode.nic.in returned 504); the Master Direction is read in full.

  • Foreign Trade Policy 2023 and Handbook of Procedures 2023 (under the Foreign Trade (Development and Regulation) Act 1992)

    IEC mandatory for any import or export (FTP 2.05(a)); gems and jewellery schemes, Advance Authorisation for gold of fineness 0.995 or more with actual-user condition (FTP 4.36), nominated agencies HHEC, MSTC, Diamond India and RBI-authorised banks (FTP 4.40); HBP 4.80-4.93 (supply by nominated agencies, AA export obligation, monitoring)

    Kind
    Regulation
    In force from
    2023-04-01
    Primary lawNot recorded

    Researcher's note: [unconfirmed] Held copies are the texts as issued on 1 Apr 2023; amendments since (e.g. DGFT 08/2025-26, PN 11/2026-27) are not incorporated and the DGFT site is blocked (CloudFront 403).

  • G.S.R. 799(E), 28 Dec 2020 (F.No. P-12011/14/2020-ES Cell-DOR): dealers in precious metals and stones with cash transactions of Rs 10 lakh or more notified as persons carrying on designated business or profession

    Kind
    Circular
    In force from
    2020-12-28
    Official guidanceNot recorded

    Researcher's note: [not-read] Notification text not held; its content is quoted in the DGA guidelines para 2.2(e) and the FIU guidance para 1; the enabling power is PMLA s.2(1)(sa)(iv) (read).

  • G.S.R. 800(E), 28 Dec 2020: CBIC notified as regulator for dealers in precious metals and stones

    Kind
    Circular
    In force from
    2020-12-28
    Official guidanceNot recorded

    Researcher's note: [not-read] Notification not held; quoted in the DGA guidelines para 2.2(h) (Rule 2(1)(fa)(iii) PMLR); the held PMLR consolidation stops in 2017.

  • Hallmarking of Gold Jewellery and Gold Artefacts Order, 2020 (S.O. 205(E)), as amended by S.O. 3513(E) (2020), S.O. 2481(E) (2021), S.O. 1594(E) (2022), S.O. 1129(E) and S.O. 2117(E) (2026)

    Kind
    Regulation
    In force from
    2021-06-01
    Primary lawNot recorded

    Researcher's note: S.O. 1129(E) of 2 Mar 2026 not held.

  • IFSCA Consolidated Circular IFSCA-PMTS/10/2023-Precious Metals/2026/2 (10 Oct 2025, updated 2 Jan 2026; amended 15 Jun 2026): import of gold/silver by Qualified Jewellers and valid India-UAE CEPA TRQ holders through IIBX

    Kind
    Circular
    In force from
    2025-10-10
    Official guidanceNot recorded

    Researcher's note: [not-read] The 15 Jun 2026 amendment (GJEPC RCMC holders and other changes) is known only from the IIBX page and secondary sources.

  • Mines and Minerals (Development and Regulation) Act, 1957 (67 of 1957), as amended to Act 28 of 2025

    Gold is a Part C mineral (First Schedule); royalty on gold at the Second Schedule rate (s.9)

    Kind
    Act
    Primary lawNot recorded

  • RBI A.P. (DIR Series) Circular No. 04 (25 May 2022): advance remittance for gold import through IIBX by Qualified Jewellers; extended to CEPA TRQ holders by A.P. (DIR Series) Circular No. 14 (31 Jan 2024)

    Kind
    Circular
    In force from
    2022-05-25
    Official guidanceNot recorded

    Researcher's note: Circular texts themselves not held; their content is consolidated in Master Direction paras C.11.3-C.11.4 (read in full).

  • Baggage Rules, 2026 (Notification 14/2026-Customs (N.T.), under s.79 Customs Act) and Customs Baggage (Declaration and Processing) Regulations, 2026 (15/2026-Customs (N.T.))

    Citation
    Notifications 14/2026 and 15/2026-Customs (N.T.), 1 Feb 2026
    Kind
    Regulation
    In force from
    2026-02-02
    Primary lawNot recorded

  • Bureau of Indian Standards (Hallmarking) Regulations, 2018 (fees amended 2022)

    Kind
    Regulation
    Primary lawNot recorded

  • Notification No. 11/2021-Customs (1 Feb 2021, G.S.R. 69(E)): effective rates of Agriculture Infrastructure and Development Cess (AIDC), as amended

    Citation
    s.25(1) Customs Act 1962 r/w s.124 Finance Act 2021
    Kind
    Circular
    In force from
    2021-02-02
    Primary lawNot recorded

    Researcher's note: 11/2021 as issued had gold at Sl. No. 16; 53/2022 inserted 15A (platinum); 03/2023 omitted Sl. No. 16 and inserted 15B (gold and silver dore), 15C (passenger goods, later substituted by 44/2025) and 15D (gold and silver); rates since set by 32/2024 and 16/2026. All held.

  • DGFT Notification 18/2025-26 (17 Jun 2025) and corrigendum (25 Jun 2025): import policy of specific Chapter 71 items

    Citation
    Notification No. 18/2025-26
    Kind
    Circular
    In force from
    2025-06-17
    UnverifiedBlocked

    Researcher's note: [blocked] Only the subject line was seen; DGFT site returns 403; content unknown.

  • DGFT Public Notice 18/2026-27: validity of FY2025-26 India-UAE CEPA TRQ authorisations for CTH 7108 extended to 30 Sep 2026

    Citation
    Public Notice No. 18/2026-27
    Kind
    Circular
    SecondaryNot recorded

  • Foreign Trade (Development and Regulation) Act, 1992 (22 of 1992)

    s.3: Central Government orders prohibiting or restricting imports and exports (goods deemed prohibited under s.11 Customs Act); s.5: Foreign Trade Policy; s.7: no import or export except under an Importer-exporter Code Number

    Kind
    Act
    Primary lawNot recorded

    Researcher's note: Copy consolidated to Act 25 of 2010.

  • Notification No. 9/2025-Integrated Tax (Rate) (17 Sep 2025): IGST rates; supersedes 1/2017-Integrated Tax (Rate)

    Citation
    s.5(1) IGST Act 2017; s.15(5) CGST Act 2017
    Kind
    Circular
    In force from
    2025-09-22
    Primary lawNot recorded

    Researcher's note: Official original held (CBIC portal).

  • Income-tax Act, 2025 (No. 30 of 2025), in force 1 Apr 2026, replacing the Income-tax Act, 1961

    s.186: no person shall receive Rs 200000 or more in cash (aggregate from a person in a day, single transaction, or one event or occasion); penalty equal to the sum received (s.451). Successor of s.269ST of the 1961 Act

    Kind
    Act
    In force from
    2026-04-01
    Primary lawNot recorded

    Researcher's note: Act as enacted; Finance Act 2026 amendments not checked (as-amended copy behind a bot challenge).

  • Prevention of Money-laundering Act, 2002 (Act 15 of 2003) and PML (Maintenance of Records) Rules, 2005

    Kind
    Act
    Primary lawNot recorded

    Researcher's note: Held and read in the FIU-IND consolidations (Act to Act 18 of 2023; Rules including the 2020-2023 amendments). The ED consolidations (Act to 2019, Rules to 2017) are also held.

Laws concerning gold in India

From the law library: the laws tagged with this commodity, with their sources. They are not research findings; the sections above are.

Hallmarking of Gold Jewellery and Gold Artefacts (Second Amendment) Order, 2021

Order · S.O. 2481(E), Gazette of India Extraordinary Part II s.3(ii) No. 2303 of 23 Jun 2021 · Central Government (Ministry of Consumer Affairs, Food and Public Distribution, Department of Consumer Affairs), under ss.14-17 and 25(3) of the BIS Act, 2016

List of BIS Licensed Gold Refineries (2024)

Other · none · Bureau of Indian Standards

Notification No. 03/2023-Customs (amends Notification No. 11/2021-Customs, AIDC: inserts Sl. Nos. 15B (gold and silver dore), 15C and 15D (gold and silver))

Notice · Notification No. 03/2023-Customs, F. No. 334/03/2023-TRU; published as G.S.R. 68(E) of 1 Feb 2023 (number given in the note to 42/2023) · Central Government (Ministry of Finance, Department of Revenue), under s.25(1) Customs Act 1962 read with s.124 Finance Act 2021

Notification No. 06/2026-Customs (amends List 14 of Notification No. 45/2025-Customs: bank authorised to import gold)

Notice · Notification No. 06/2026-Customs; published as G.S.R. 181(E) of 12 Mar 2026 (number given in the note to 15/2026) · Central Government (Ministry of Finance, Department of Revenue), under s.25(1) Customs Act 1962 and s.3(12) Customs Tariff Act 1975

Notification No. 15/2026-Customs (further amendments to Notification No. 45/2025-Customs: basic customs duty on gold, silver, dore and other precious-metal goods)

Notice · Notification No. 15/2026-Customs, F. No. 354/04/2026-TRU; G.S.R. number blank in this copy ("G.S.R……(E)"); for publication in the Gazette of India Extraordinary Part II s.3(i) · Central Government (Ministry of Finance, Department of Revenue), under s.25(1) Customs Act 1962 and s.3(12) Customs Tariff Act 1975

Notification No. 16/2026-Customs (amends Notification No. 11/2018-Customs (Social Welfare Surcharge) and No. 11/2021-Customs (AIDC) for precious metals)

Notice · Notification No. 16/2026-Customs, F. No. 354/04/2026-TRU; G.S.R. number blank in this copy · Central Government (Ministry of Finance, Department of Revenue), under s.25(1) Customs Act 1962 read with s.110 Finance Act 2018 and s.124 Finance Act 2021

Notification No. 17/2026-Customs (amends Notification No. 57/2000-Customs: gold, silver and platinum for jewellery-export schemes)

Notice · Notification No. 17/2026-Customs; G.S.R. number blank in this copy · Central Government (Ministry of Finance, Department of Revenue), under s.25(1) Customs Act 1962

Notification No. 18/2026-Customs (amends Notification No. 22/2022-Customs, India-UAE CEPA, TABLE III S. No. 12: in-quota rates for gold)

Treaty · Notification No. 18/2026-Customs; G.S.R. number blank in this copy · Central Government (Ministry of Finance, Department of Revenue), under s.25(1) Customs Act 1962

Notification No. 31/2024-Customs (amends Notification No. 22/2022-Customs, India-UAE CEPA, TABLE III S. No. 12: in-quota rates for gold)

Treaty · Notification No. 31/2024-Customs, F.No. 334/03/2024-TRU; G.S.R. number blank in this copy; for Gazette of India Extraordinary Part II s.3(i) · Central Government (Ministry of Finance, Department of Revenue), under s.25(1) Customs Act 1962

Notification No. 33/2022-Customs (amends Notification No. 50/2017-Customs: S. Nos. 354, 356 and 357A raised; portal title "Seeks to increase BCD rate on Gold")

Notice · Notification No. 33/2022-Customs, F.No. 354/16/2022-TRU; G.S.R. number blank in this copy · Central Government (Ministry of Finance, Department of Revenue), under s.25(1) Customs Act 1962 and s.3(12) Customs Tariff Act 1975

Notification No. 57/2000-Customs (exemption for gold, silver and platinum imported for export through exhibitions/export promotion tours/branded jewellery and under export against supply by nominated agencies), as issued

Notice · Notification No. 57/2000-Customs, F. No. 305/13/2000-FTT; G.S.R. 413(E) of 8 May 2000 (number given in 17/2026) · Central Government (Ministry of Finance, Department of Revenue), under s.25(1) Customs Act 1962

Notification No. 75/2026-Customs (N.T.) (tariff values: substitutes TABLES 1-3 of Notification No. 36/2001-Customs (N.T.); gold US$ 1373 per 10 grams)

Notice · Notification No. 75/2026-Customs (N.T.), F. No. 467/01/2026-Cus.V; S.O. number blank in this copy; for Gazette of India Extraordinary Part II s.3(ii) · Central Board of Indirect Taxes and Customs, under s.14(2) Customs Act 1962

Anti Money-Laundering, Countering the Financing of Terrorism, and Combating Proliferation Financing Guidelines for Dealers in Precious Metals and Precious Stones, 2023 under PMLA, 2002, UAPA, 1967, and WMDA, 2005

Guidance · DGA/Tech/Misc/26/2022-TECH-O/o DG-DGA-HQ-DELHI · Directorate General of Audit (Indirect Taxes & Customs), CBIC, as Regulator of dealers in precious metals and stones on behalf of CBIC

Appendix-4B (Handbook of Procedures): A. Banks authorised by RBI to import both gold and silver; B. Banks authorised to import only gold; C. Nominated agencies under FTP

Guidance · HBP Appendix 4B (FY 2025-26 lists) · Directorate General of Foreign Trade

Guidance on Reporting by Dealers in Precious Metals and Precious Stones

Guidance · Financial Intelligence Unit - India (Department of Revenue)

Hallmarking of Gold Jewellery and Gold Artefacts Order, 2020

Order · S.O. 205(E), Gazette of India Extraordinary Part II s.3(ii) No. 195 of 15 Jan 2020, F. No. 6/1/2017-BIS (Pt.) · Central Government (Ministry of Consumer Affairs, Food and Public Distribution, Department of Consumer Affairs), under ss.14(3), 15(2)-(3), 16(1)-(2), 17 and 25(3) of the BIS Act, 2016

Hallmarking of Gold Jewellery and Gold Artefacts (Second Amendment) Order, 2026

Order · S.O. 2117(E), F. No. V-6/1/2017-BIS(Part-2); Gazette of India Extraordinary Part II s.3(ii) · Central Government (Ministry of Consumer Affairs, Food and Public Distribution, Department of Consumer Affairs), under the BIS Act, 2016

Hallmarking of Gold Jewellery and Gold Artefacts (Amendment) Order, 2020

Order · S.O. 3513(E), Gazette of India Extraordinary Part II s.3(ii) No. 3120 of 9 Oct 2020, F. No. V-6/1/2017-BIS (Part 1) · Central Government (Department of Consumer Affairs), under the BIS Act, 2016

Hallmarking of Gold Jewellery and Gold Artefacts (Amendment) Order, 2022

Order · S.O. 1594(E), Gazette of India Extraordinary Part II s.3(ii) No. 1531 of 4 Apr 2022 · Central Government (Department of Consumer Affairs), under the BIS Act, 2016

IFSCA Circular: 'Qualified Suppliers' for supply of bullion on India International Bullion Exchange

Circular · F.No 329/IFSCA/Bullion MIIs/2023-24/03 · International Financial Services Centres Authority (Department of Metals and Commodities), under s.12 IFSCA Act 2019 r/w reg. 58 IFSCA (Bullion Exchange) Regulations 2020

Every law of India concerning Gold

Procedures

Deposit of bars in an IFSC vault and BDR creation (GIFT City)

Applies when: A foreign supplier puts bars into the IIBX ecosystem before sale to Indian buyers

Channel: IIBX (GIFT IFSC)

  1. Custody

    Deliver LBMA- or UAEGD-approved bars to an IFSCA-approved vault in GIFT IFSC; for TRQ contracts the bars must be UAEGD and carry UAE country-of-origin certification

    Who
    IIBX Qualified Supplier (LBMA- or UAEGD-approved refiner/supplier)
    With
    IFSCA-approved vault manager in IFSC
    Issues
    Vault inward record
    Official guidanceNot recordedBlocked

    Researcher's note: IIBX pages not held (403). IFSCA FAQ 14 and 18 (held): suppliers transfer bullion into depository-empanelled vaults and all bullion entering them must be converted into BDRs. How bars clear customs into the IFSC (SEZ) was not found in a held text.

  2. Custody

    Create BDRs against the vaulted bars (bars must meet approved-refinery and product specifications)

    Who
    Bullion depository in IFSC (BDR registry)
    Needs
    Vault inward record
    Issues
    BDR for bars deposited in IFSC vault
    Official guidanceNot recorded
  3. Custody

    Hold BDRs in the participant's demat account; BDR transfers settle every 30 minutes

    Who
    Bullion depository in IFSC (BDR registry)
    Issues
    BDR demat account statement
    Official guidanceBlocked

Jewellery manufacture, hallmarking and retail sale

Applies when: Gold is consumed in India

  1. Assay

    Submit jewellery to a BIS-recognised Assaying and Hallmarking Centre for fineness testing, hallmark and HUID (fee Rs 45 per article, minimum Rs 200 per consignment)

    Who
    BIS-registered jeweller / dealer in precious metals
    With
    BIS-recognised Assaying and Hallmarking Centre
    Issues
    Hallmark and HUID
    Primary lawNot recorded

    Legal basis: Hallmarking Order 2020 cls. 1A, 2; BIS (Hallmarking) Regulations 2018 reg. 5(6)-(8) and Schedule IV (2022), Order cl. 2; Regulations reg. 5

  2. Due diligence

    Identify the customer and apply due diligence (enhanced for higher-risk clients) where the dealer is a reporting entity

    Who
    BIS-registered jeweller / dealer in precious metals
    Issues
    Client KYC/CDD record
    Primary lawNot recorded

    Legal basis: PMLA ss.11A, 12AA; PMLR r.9; DGA guidelines paras 5.2.2, 5.3, PMLR r.9; DGA paras 5.2.2, 5.3.1

  3. Tax

    Sell hallmarked jewellery with GST invoice (3% on gold value)

    Who
    BIS-registered jeweller / dealer in precious metals
    Needs
    Hallmark and HUID
    Issues
    Retail GST invoice for jewellery
    Primary lawNot recorded

    Researcher's note: IGST 3% read (inter-State); CGST/SGST intra-State notifications not read. Invoice must show net weight, purity and hallmarking charges (Hallmarking Regulations reg. 5(11)); cash receipts of Rs 2 lakh or more barred (ITA 2025 s.186).

  4. Reporting

    Report cash transactions (Rule 3 PMLR) to FIU-IND monthly by the 15th of the following month; register on FINGate 2.0 at the first cash transaction of Rs 10 lakh or more

    Who
    BIS-registered jeweller / dealer in precious metals
    With
    FIU-IND
    Issues
    CTR; FIUREID
    Primary lawNot recorded

    Legal basis: PMLA s.12(1)(b); PMLR r.8(1); G.S.R. 799(E) of 28.12.2020, PMLA s.12(1)(b); PMLR r.8(1)

Import of gold against Advance Authorisation and export as jewellery

Applies when: Imported gold leaves India as jewellery

Channel: Advance Authorisation (also SEZ/EOU units, not detailed)

  1. Licensing

    Issue Advance Authorisation for gold (max 100 kg); first-time applicants get a physical facility inspection; further gold AAs only after 50% of the export obligation of earlier AAs is met

    Who
    DGFT (licensing authority)
    With
    Jewellery manufacturer-exporter (Advance Authorisation holder, SEZ/EOU unit)
    Issues
    Advance Authorisation (gold); Facility inspection report
    SecondaryNot recorded

    Legal basis: DGFT Public Notice 11/2026-27 (notes under SIONs M-1 to M-8); FTP 2023 para 4.36, notes under SION M-1 to M-8

    Researcher's note: [transcription] PN 11/2026-27 read only as reproduced by TaxGuru (DGFT blocked). The earlier note "PN amends FTP paras 1.03 and 2.04" was not seen in any text read and was removed.

  2. Customs

    Import gold of fineness 0.995 or more duty-free (IGST payable) against the Advance Authorisation with actual-user condition, directly, from a nominated agency (HBP 4.84(c)), or through IIBX as a QJ notified on the AA route (only the ITC(HS) codes in the AA and only for its exports), and clear it on a Bill of Entry

    Who
    Jewellery manufacturer-exporter (Advance Authorisation holder, SEZ/EOU unit)
    Needs
    Advance Authorisation (gold)
    Issues
    Bill of Entry for gold imported against AA
    Primary lawNot recorded

    Legal basis: FTP 2023 para 4.36(a); HBP 4.84; IFSCA consolidated circular cls. 3(e), 18A-18B, FTP 4.36(a); IFSCA cl. 18B

    Researcher's note: The customs exemption notification for AA imports was not read; FTP/HBP held as issued 2023.

  3. Customs

    Manufacture and export jewellery on a Shipping Bill against the export obligation

    Who
    Jewellery manufacturer-exporter (Advance Authorisation holder, SEZ/EOU unit)
    Needs
    Bill of Entry for gold imported against AA
    Issues
    Shipping Bill for jewellery export
    Official guidanceNot recorded

    Legal basis: HBP 2023 para 4.84; FTP 2023 paras 4.36-4.37, HBP 4.84(b)

    Researcher's note: Shipping Bill procedure under the Customs Act not read (Act not held).

  4. Reporting

    File fortnightly CA-certified performance reports to the Regional Authority (which reports monthly to DGFT HQ)

    Who
    Jewellery manufacturer-exporter (Advance Authorisation holder, SEZ/EOU unit)
    With
    DGFT (licensing authority)
    Issues
    Fortnightly AA performance report (CA-certified)
    SecondaryNot recorded

Passenger import of gold jewellery

Applies when: Gold arrives in passenger baggage

Channel: passenger baggage

  1. Customs

    Declare jewellery beyond the special allowance (40 g female / 20 g other passengers, residents or tourists of Indian origin abroad more than one year) and any gold other than ornaments electronically in CBD-I before the green channel, and pay duty (eligible passengers may import up to 1 kg of gold at the concessional rate of 45/2025 S. No. 194, duty in convertible foreign currency)

    Who
    International passenger
    With
    Indian Customs (CBIC)
    Issues
    Baggage declaration
    Primary lawNot recorded

    Legal basis: Baggage Rules 2026 r.6 and Annexure-I; Customs Baggage (Declaration and Processing) Regulations 2026 reg. 3; 45/2025 S. No. 194, condition 23, r.6; reg. 3

Import through IIBX by a Qualified Jeweller or CEPA TRQ holder

Applies when: Indian jeweller buys on IIBX and takes delivery into the Domestic Tariff Area

Channel: IIBX: Qualified Jeweller or India-UAE CEPA TRQ holder

  1. Licensing

    Hold a valid DGFT TRQ allocation for CTH 7108 (FY2025-26 allocations valid to 30 Sep 2026) and register on IIBX

    Who
    India-UAE CEPA TRQ holder (DGFT allocation)
    SecondaryNot recorded

    Legal basis: DGFT Notification 44/2023; Public Notice 18/2026-27

  2. Payment

    Allow the QJ or TRQ holder to remit an advance for IIBX purchase for up to 11 days, after KYC/due diligence

    Who
    Authorised Dealer Category-I bank
    With
    IFSCA Qualified Jeweller (buys on IIBX, buy-only)
    Needs
    Qualified Jeweller approval
    Issues
    Advance remittance (max 11 days) for IIBX purchase
    Official guidanceNot recorded

    Legal basis: RBI Master Direction - Import of Goods and Services, paras C.11.3 (QJ; A.P. (DIR) Circular 04 of 25 May 2022) and C.11.4 (TRQ holders; A.P. (DIR) Circular 14 of 31 Jan 2024)

  3. Pricing

    Buy on IIBX; BDRs credited to own demat account (TRQ holders may buy only TRQ contracts of UAEGD bars with UAE origin)

    Who
    IFSCA Qualified Jeweller (buys on IIBX, buy-only)
    With
    Bullion exchange in GIFT IFSC (IIBX) and its clearing house
    Needs
    Advance remittance (max 11 days) for IIBX purchase
    Issues
    IIBX trade and settlement confirmation
    Official guidanceNot recorded
  4. Custody

    On the buyer's request, extinguish the BDRs and instruct the vault to release the bars

    Who
    Bullion depository in IFSC (BDR registry)
    Needs
    IIBX trade and settlement confirmation
    Issues
    BDR extinguishment / withdrawal instruction
    Official guidanceNot recorded
  5. Customs

    File Bill of Entry for home consumption and pay customs duty and IGST 3%; CEPA TRQ bars of UAE origin pay the in-quota rates (BCD 10% + AIDC 4% from 13 May 2026) against a DGFT TRQ authorisation debited in ICES; other bars pay 10% + 5%

    Who
    Customs broker (CHA)
    Needs
    BDR extinguishment / withdrawal instruction
    Issues
    Bill of Entry for clearance from IFSC vault into DTA; Duty and IGST payment (IIBX delivery)
    Primary lawNot recorded

    Legal basis: Notification 22/2022-Customs TABLE III S. No. 12 and conditions 1-2, as amended by 18/2026; 45/2025 S. No. 196

    Researcher's note: Customs procedure for IFSC-to-DTA clearance is not described in a held text beyond IFSCA cl. 25 (BoE within 11 days). 22/2022 and 09/2026 read in the official portal, not held.

  6. Transport

    Release and deliver bars to the buyer in the Domestic Tariff Area

    Who
    IFSCA-approved vault manager in IFSC
    With
    IFSCA Qualified Jeweller (buys on IIBX, buy-only)
    Needs
    Bill of Entry for clearance from IFSC vault into DTA
    Official guidanceNot recorded
  7. Reporting

    Submit the Bill of Entry to the AD bank as evidence of import; return any unutilised advance within 11 days

    Who
    IFSCA Qualified Jeweller (buys on IIBX, buy-only)
    With
    Authorised Dealer Category-I bank
    Needs
    Bill of Entry for clearance from IFSC vault into DTA
    Issues
    Evidence of import lodged with AD bank (IDPMS)
    Official guidanceNot recorded

    Legal basis: RBI Master Direction; IFSCA consolidated circular, MD para C.11.3(i)(c)-(d); IFSCA cl. 23

Import of gold bars by a nominated bank or nominated agency

Applies when: India receives refined bars (995/999.9) from a foreign supplier for the domestic market

Channel: nominated bank / DGFT-nominated agency (consignment or outright)

  1. Due diligence

    KYC and AML due diligence on the foreign supplier before accepting gold on consignment

    Who
    Nominated bank (RBI-authorised to import gold)
    With
    Foreign bullion supplier / consignor
    Issues
    Bank KYC/AML file on foreign supplier
    Official guidanceNot recorded

    Legal basis: RBI Master Direction - Import of Goods and Services, para B.1 (KYC guidelines in all dealings)

    Researcher's note: Correction: the earlier citation "para C.12" is the rule for platinum, palladium, rhodium, silver and diamonds; the general KYC duty is para B.1.

  2. Transport

    Ship bars by air to the nominated bank or agency; bars remain the supplier's property until priced (consignment)

    Who
    Foreign bullion supplier / consignor
    With
    Nominated bank (RBI-authorised to import gold)
    Official guidanceNot recorded

    Legal basis: RBI Master Direction - Import of Goods and Services, para C.11.1(ii)

    Researcher's note: Consignment import is MD C.11.1(ii); the shipping documents are trade practice [inferred], not listed in the MD.

  3. Customs

    File Bill of Entry; pay basic customs duty 10% (45/2025 S. No. 196 as amended by 15/2026) plus AIDC 5% (11/2021 Sl. 15D, 16/2026) - 15% combined from 13 May 2026 (5% + 1% = 6% from 24 Jul 2024); IGST 3% unless the bank is exempt under 45/2025 S. No. 198; gold of 7108 is Restricted and clears only for a nominated importer

    Who
    Nominated bank (RBI-authorised to import gold)
    Issues
    Bill of Entry (nominated agency/bank import); Duty and IGST payment (nominated import)
    Primary lawNot recorded

    Legal basis: Customs Act 1962 s.25 notifications 45/2025, 15/2026, 16/2026; 9/2025-Integrated Tax (Rate); RBI MD C.11.1(ii)

    Researcher's note: [unconfirmed] AIDC serial 15D not described in a held text. [time-limited] The IGST exemption lists for banks expired 31 Mar 2026; no FY 2026-27 list found.

  4. Pricing

    Sell to a jeweller (outright or on consignment); price fixed against the international price at the time of sale; GST invoice at 3%

    Who
    Nominated bank (RBI-authorised to import gold)
    With
    BIS-registered jeweller / dealer in precious metals
    Issues
    GST invoice on sale of bullion to jeweller
    SecondaryNot recorded

    Researcher's note: Domestic sale "against upfront payment" is MD C.11.1(ii); consignment/loan mechanics from IFSCA FAQ 20 (describes existing practice); pricing against international price is market practice [industry-practice].

  5. Payment

    Remit payment to the foreign supplier; supplier's or buyer's credit for gold may not exceed 90 days from shipment

    Who
    Authorised Dealer Category-I bank
    With
    Foreign bullion supplier / consignor
    Issues
    Payment to foreign supplier (within 90 days of shipment)
    Official guidanceNot recorded

    Legal basis: RBI Master Direction - Import of Goods and Services, para C.11.2

  6. Reporting

    Lodge evidence of import (Bill of Entry number, port code, date) with the AD bank in IDPMS

    Who
    Nominated bank (RBI-authorised to import gold)
    Needs
    Bill of Entry (nominated agency/bank import)
    Issues
    Evidence of import lodged with AD bank (IDPMS)
    Official guidanceNot recorded

    Legal basis: RBI Master Direction - Import of Goods and Services, paras C.7.1, C.8, C.10

    Researcher's note: Correction: "extendable to 12 months" is not in the Master Direction and was removed.

Import and refining of gold dore by a domestic refinery

Applies when: India receives dore from an origin country for refining

Channel: refinery under actual-user condition

  1. Customs

    Import dore as actual user under 45/2025 S. No. 192 (conditions 3 and 22: direct shipment from the producing country, bars of 5 kg or more, mining-company packing list and assay certificate, refining to 99.5% or more); file Bill of Entry; pay BCD 10% from 13 May 2026 (5% before) plus AIDC, and IGST 3%

    Who
    Domestic gold refinery (dore importer under actual-user condition)
    Issues
    Bill of Entry for gold dore (actual-user); Duty and IGST payment on dore
    Primary lawNot recordedOCR

    Legal basis: 45/2025-Customs S. No. 192, conditions 3 and 22, as amended by 15/2026; IGCR Rules 2022, TABLE I S. No. 192; condition 22

    Researcher's note: [unconfirmed] AIDC serial for dore not identified (see in.tax-dore-2026). The origin-country documents (export authorisation, export declaration) are what the exporting country issues; Indian law read here asks for the mining-company packing list and assay certificate.

  2. Refining

    Refine dore to 995/999.9 bars and issue outturn assay

    Who
    Domestic gold refinery (dore importer under actual-user condition)
    Needs
    Bill of Entry for gold dore (actual-user)
    Issues
    Refinery outturn assay; List of refined bars produced
    UnverifiedNot recorded

    Researcher's note: No Indian legal text prescribes the refinery process or outturn documents; industry-standard step. Condition 22(d) of 45/2025 requires refining into bars of 99.5% or more.

  3. Tax

    Sell refined bars to jewellers/dealers with GST invoice at 3%

    Who
    Domestic gold refinery (dore importer under actual-user condition)
    With
    BIS-registered jeweller / dealer in precious metals
    Issues
    GST invoice on sale of refined bars
    Primary lawNot recorded

    Researcher's note: IGST rate (inter-State) 3% read; CGST/SGST rate notifications for intra-State sales not read.

Periodic reporting by gold importers and dealers

Applies when: Ongoing

  1. Reporting

    Head Office / International Banking Division of the AD Category-I bank files gold-import returns in CIMS: R133 half-yearly (end March/September) for nominated banks/agencies/QJs/EOUs/SEZs, R132 monthly for nominated agencies other than banks, EOUs, QJs and SEZs; both by the 10th of the following month/half-year, even if nil

    Who
    Authorised Dealer Category-I bank
    Issues
    R132/R133 return
    Official guidanceNot recorded

    Legal basis: RBI Master Direction - Import of Goods and Services, para C.11.1

  2. Reporting

    Keep transaction records for 5 years and a documented client risk assessment available to FIU/regulator

    Who
    BIS-registered jeweller / dealer in precious metals
    Needs
    Client KYC/CDD record
    Primary lawNot recorded

    Legal basis: PMLA s.12(3)-(4); DGA guidelines paras 4.6, 5.4.2, PMLA s.12(3)-(4)

Sale of bullion on IIBX

Applies when: Qualified Supplier sells vaulted bullion to Indian buyers

Channel: IIBX

  1. Pricing

    Offer bullion on an IIBX spot/T+2 contract (only suppliers and trading members may sell; QJs and TRQ holders are buy-only)

    Who
    IIBX Qualified Supplier (LBMA- or UAEGD-approved refiner/supplier)
    With
    Bullion exchange in GIFT IFSC (IIBX) and its clearing house
    Needs
    BDR for bars deposited in IFSC vault
    Official guidanceNot recorded
  2. Payment

    Clear and settle the trade: funds every 3 hours, BDRs every 30 minutes

    Who
    Bullion exchange in GIFT IFSC (IIBX) and its clearing house
    Issues
    IIBX trade and settlement confirmation
    Official guidanceBlocked

Licences and registrations

  • Advance Authorisation for import of gold (max 100 kg)

    Held by
    Jewellery manufacturer-exporter (Advance Authorisation holder, SEZ/EOU unit)
    Issued by
    DGFT Regional Authority
    Primary lawNot recorded

    Legal basis: FTP 2023 para 4.36; HBP 2023 para 4.84; DGFT Public Notice 11/2026-27 (100 kg cap), FTP 4.36(a); HBP 4.84(b)

    Researcher's note: [transcription] The 100 kg cap, inspection and 50% rule come from PN 11/2026-27 as reproduced by TaxGuru (DGFT copy blocked). FTP/HBP held as issued in 2023.

  • BIS recognition as Assaying and Hallmarking Centre

    Held by
    BIS-recognised Assaying and Hallmarking Centre
    Issued by
    BIS
    Primary lawNot recorded

  • BIS licence for a refinery or mint (hallmarking of bullion and coins, voluntary)

    Held by
    Domestic gold refinery (dore importer under actual-user condition)
    Issued by
    BIS
    Official guidanceNot recorded

    Legal basis: BIS (Hallmarking) Regulations 2018 Chapter III; BIS Guidelines for Refinery or Mint (2018)

    Researcher's note: Chapter III of the Regulations not read line by line; the guidelines (read) describe the licence.

  • BIS certificate of registration to sell hallmarked gold jewellery

    Held by
    BIS-registered jeweller / dealer in precious metals
    Issued by
    BIS
    Valid for
    Five years (reg. 4(2)), renewable (reg. 6)
    Primary lawNot recorded

    Legal basis: Hallmarking Order 2020 cl. 2(1); BIS (Hallmarking) Regulations 2018 regs 3-5, Order cl. 2(1); Regulations regs 3, 4(2), 5

  • Demat account with the IFSC bullion depository (for BDRs)

    Held by
    IFSCA Qualified Jeweller (buys on IIBX, buy-only)
    Issued by
    Bullion depository in IFSC
    SecondaryNot recordedBlocked

    Researcher's note: IFSCA circular cl. 16 and 25 name the bullion depository (IIDIL) but do not state a demat-account requirement in these words.

  • Nominated-agency status for import of gold

    DGFT nomination

    Held by
    DGFT-nominated agency (non-bank)
    Issued by
    DGFT
    Official guidanceNot recorded

    Legal basis: FTP 2023 para 4.40; HBP Appendix 4B part C; HBP para 4.93, FTP 4.40(ii)

  • Nominated-bank authorisation to import gold

    Held by
    Nominated bank (RBI-authorised to import gold)
    Issued by
    RBI (banks listed in HBP Appendix 4B and in Lists 13-14 of Notification 45/2025-Customs)
    Valid for
    Financial year: FY 2025-26 lists valid 1 Apr 2025 to 31 Mar 2026
    Official guidanceNot recorded

    Legal basis: FTP 2023 para 4.40(iii); RBI MD para C.11.1(ii); HBP Appendix 4B A-B, MD para C.11.1(ii)

    Researcher's note: [time-limited] Lists expire 31 Mar 2026. [unconfirmed] FY 2026-27 lists not found (Appendix 4B file of Jan 2026; no 45/2025 list amendment to 21 Aug 2026); WGC reported delayed renewal.

  • Actual-user conditions for importing gold dore at the dore rate

    Held by
    Domestic gold refinery (dore importer under actual-user condition)
    Issued by
    Customs (conditions of Notification 45/2025-Customs); BIS licence for refineries is separate and voluntary
    Primary lawNot recorded

    Legal basis: 45/2025-Customs TABLE I S. No. 192, conditions 3 and 22, condition 22 (a)-(d); condition 3

  • SEZ Letter of Approval with jewellery export authorisation

    Held by
    Jewellery manufacturer-exporter (Advance Authorisation holder, SEZ/EOU unit)
    Issued by
    SEZ Development Commissioner
    Official guidanceNot recorded

  • India-UAE CEPA Tariff Rate Quota authorisation for gold (CTH 7108)

    TRQ authorisation (quantity allocation)

    Held by
    India-UAE CEPA TRQ holder (DGFT allocation)
    Issued by
    DGFT
    Valid for
    Financial year; FY2025-26 authorisations extended from 30 Jun 2026 to 30 Sep 2026
    Primary lawNot recorded

    Legal basis: Notification 22/2022-Customs Annexure conditions 1-2; IFSCA consolidated circular Chapter II, 22/2022 conditions 1 and 2; IFSCA cls. 10-17

  • FIU-IND registration on FINGate 2.0 (FIUREID) and Principal Officer

    Held by
    BIS-registered jeweller / dealer in precious metals
    Issued by
    FIU-IND
    Official guidanceNot recorded

    Legal basis: FIU-IND guidance paras 5 and Annexure II; DGA guidelines para 3.5

  • GST registration

    Held by
    BIS-registered jeweller / dealer in precious metals
    Issued by
    GST authorities
    Official guidanceNot recorded

    Researcher's note: Required as a QJ criterion (IFSCA cl. 3(b): GST returns filed); GST registration law not read.

  • Importer-Exporter Code (IEC)

    Held by
    DGFT-nominated agency (non-bank)
    Issued by
    DGFT
    Primary lawNot recorded

    Legal basis: Foreign Trade (Development and Regulation) Act 1992 s.7; Foreign Trade Policy 2023 para 2.05(a), FT(D&R) Act s.7; FTP 2.05(a)

  • IFSCA Qualified Jeweller recognition (IIBX buy-only)

    QJ approval; IIBX client code

    Held by
    IFSCA Qualified Jeweller (buys on IIBX, buy-only)
    Issued by
    IFSCA via IIBX
    Official guidanceNot recorded

    Legal basis: IFSCA Consolidated Circular IFSCA-PMTS/10/2023-Precious Metals/2026/2 (updated 2 Jan 2026), cls. 3, 5, 5A, 6, 7

    Researcher's note: [not-read] The 15 Jun 2026 amendment (RCMC holders; per a secondary source it also removed the SEZ net-worth requirement) is not held.

  • IIBX Qualified Supplier status

    Held by
    IIBX Qualified Supplier (LBMA- or UAEGD-approved refiner/supplier)
    Issued by
    IIBX / IFSCA
    Official guidanceNot recorded

    Researcher's note: The LBMA/UAEGD eligibility is from the IIBX page (not held, 403); the IFSCA circular of 18 Aug 2022 that sets it is not held.

  • GJEPC Registration-cum-Membership Certificate (RCMC)

    Held by
    Jewellery manufacturer-exporter (Advance Authorisation holder, SEZ/EOU unit)
    Issued by
    Gem & Jewellery Export Promotion Council
    Official guidanceNot recorded

Taxes and fees

  • Duty-free special allowance for jewellery (Baggage Rules 2026 r.6)

    Residents or tourists of Indian origin residing abroad for more than one year, in bona fide baggage; gold or silver in any form other than ornaments is excluded from the general free allowance (Annexure-I item 5)

    Rate
    Duty-free jewellery up to 40 g (female passenger) or 20 g (other passengers)
    Primary lawNot recorded

    Legal basis: Baggage Rules 2026, r.6; r.5 and Annexure-I item 5

    Researcher's note: The Baggage Rules 2016 were not read, so the earlier statement that value caps of Rs 1 lakh / Rs 50,000 were removed is not confirmed in law [unconfirmed]; r.6 as made has no value cap.

  • India-UAE CEPA tariff rate quota for gold (22/2022-Customs TABLE III S. No. 12)

    Gold of 71081100, 71081210, 71081290, 71081310, 71081390 (all goods) of UAE origin within the TRQ quantity: 200 tonnes from 1 Apr 2026 (09/2026); 180 tonnes FY 2025-26 (21/2025); 120 tonnes "other than Gold Dore Bar" in 2022

    Rate
    In-quota BCD 10% + AIDC 4% (14%) from 13 May 2026 (18/2026); 4% + 1% (5%) from 24 Jul 2024 (31/2024); 6.6% + 2.5% as notified in 2022
    Base
    Assessable value
    Primary lawNot recorded

    Legal basis: Notification 22/2022-Customs TABLE III S. No. 12, conditions 1 and 2, as substituted/amended by 31/2024, 21/2025, 09/2026 and 18/2026

    Researcher's note: Held: 22/2022 (principal, conditions 1-2: TRQ allotted by DGFT, authorisation transmitted to ICES and debited electronically), 31/2024, 09/2026 (200 t from 1 Apr 2026), 18/2026 (10 and 4 from 13 May 2026). 21/2025 read in the portal only. CEPA Annex 2A (treaty commitment) not held.

  • BCD and AIDC on other chapter 71 goods from 13 May 2026 (7107, 7109, 7110, 7111, 7112, 7118; findings; spent catalyst)

    Headings 7107, 7109, 7110, 7111, 7112, 7118

    Rate
    BCD 10% (45/2025 S. No. 202 as substituted and S. No. 203 findings, by 15/2026); AIDC: findings of gold or silver 5%, platinum findings 5.4% (15F), 7107 and 7109 5%, 7111 5.4%, 7118 5%, 7112 other than spent catalyst 5% (16/2026); spent catalyst or ash BCD 10% (S. No. 200A, to 31 Mar 2027), AIDC 4.35% (15E)
    Primary lawNot recorded

  • Customs duty on gold dore

    Gold dore bars with gold content not over 95% imported by actual users for refining (45/2025 S. No. 192, conditions 3 and 22)

    Rate
    5.35% combined (BCD 5% + AIDC 0.35%)
    Primary lawNot recorded

    Legal basis: 30/2024 (BCD); 32/2024 (AIDC); from 1 Nov 2025 45/2025 S. No. 192

    Researcher's note: AIDC Sl. No. 15B (gold dore) 0.35% from 24 Jul 2024 (32/2024), described in 03/2023; BCD 5% (30/2024; 45/2025 S. No. 192 from 1 Nov 2025). Total 5.35% also stated in the Budget 2024 annex Table D.1.

  • Customs duty on gold dore from 13 May 2026: BCD 10% + AIDC

    Gold dore bar with gold content not over 95% (45/2025 S. No. 192), subject to conditions 3 (IGCR Rules 2022) and 22 (see in.cr-refinery-au)

    Rate
    BCD 10% + AIDC 4.35% (11/2021 Sl. No. 15B, gold dore bar) = 14.35%
    Base
    Assessable value
    Paid by
    Refiner (actual user)
    Collected by
    Customs
    Primary lawNot recorded

    Legal basis: 45/2025-Customs S. No. 192 as amended by 15/2026; 11/2021 Sl. No. 15B (inserted by 03/2023, rate 4.35% set by 16/2026)

    Researcher's note: [time-limited] S. No. 192 has effect only until 31 Mar 2027 (proviso added by 02/2026). AIDC Sl. No. 15B is "Gold dore bar, having gold content not exceeding 95%" (03/2023).

  • Customs duty on gold bars (BCD + AIDC), July 2022 - July 2024

    HS 7108 bars; dore

    Rate
    15% (dore 14.35%)
    Official guidanceNot recorded

    Researcher's note: BCD rise of 30 Jun 2022 read in 33/2022 (held; portal title "Seeks to increase BCD rate on Gold"), but the 50/2017 serials it sets to 12.5% are not described there (50/2017 not held); AIDC 2.5% on gold (11/2021 Sl. No. 16 as issued, held); SWS exemption for 7108 from 30 Jun 2022 (34/2022, held). The 15% / 14.35% totals come from the Budget 2024 annex Table D.1 "From" column.

  • Customs duty on gold bars: BCD 5% + AIDC 1% (24 Jul 2024 - 12 May 2026)

    Gold bars (HS 7108)

    Rate
    6% combined (BCD 5%, AIDC 1%, SWS exempt)
    Base
    Tariff value fixed by CBIC under Customs Act s.14(2) for serial-numbered gold bars and coins (the rates in force in 2024-26 are in the fortnightly Customs (N.T.) notifications, not held for that period); other gold at transaction value (s.14(1))
    Paid by
    Importer of record
    Collected by
    Customs
    Primary lawNot recorded

    Legal basis: Notification 30/2024-Customs (BCD, amending 50/2017; carried at 5% into 45/2025 S. No. 196 from 1 Nov 2025); 32/2024-Customs (AIDC Sl. No. 15D 1%)

    Researcher's note: [unconfirmed] 30/2024 does not name the goods at the serials it sets to 5% (50/2017 not held); from 1 Nov 2025 the 5% is read in 45/2025 S. No. 196. AIDC Sl. No. 15D (gold other than dore and passenger goods, 03/2023) was 1% (32/2024); the 6% total is also in the Budget annex Table D.1. [not-read] The 2024-26 tariff-value notifications were not obtained.

  • Customs duty on gold bars from 13 May 2026: BCD 10% + AIDC 5% (SWS exempt)

    All goods of heading 7108 other than dore (45/2025 TABLE I S. No. 196); silver 7106 likewise (S. No. 197)

    Rate
    15% combined (BCD 10%, AIDC 5%)
    Base
    Tariff value fixed by CBIC under Customs Act s.14(2) for "Gold bars, other than tola bars, bearing manufacturer's or refiner's engraved serial number and weight expressed in metric units" and gold coins of 99.5% or more and findings (not by post, courier or baggage): US$ 1373 per 10 grams from 16 Sep 2026 (75/2026-Customs (N.T.) TABLE-2 Sl. No. 4), re-fixed fortnightly; other gold is valued at transaction value (s.14(1))
    Paid by
    Importer of record
    Collected by
    Customs
    Primary lawNot recorded

    Legal basis: 45/2025-Customs S. No. 196 as amended by 15/2026 (BCD "5%" -> "10%"); 11/2021-Customs Sl. No. 15D as amended by 16/2026 (AIDC "5%"); 11/2018-Customs Sl. No. 1 (SWS exemption includes 7108)

    Researcher's note: AIDC Sl. No. 15D is "7106, 7108, 98 - The following goods (other than those mentioned at Sl. Nos. 15B and 15C), namely: (a) Silver (b) Gold" (inserted by 03/2023-Customs, held). [time-limited] The tariff value (US$ 1373 per 10 g from 16 Sep 2026) is replaced by each new Customs (N.T.) notification.

  • IGST on gold (Schedule IV, 3%)

    Heading 7108 gold (Schedule IV S. No. 5) and 7113 jewellery (S. No. 10), among other chapter 71 goods

    Rate
    3%
    Primary lawNot recorded

    Legal basis: Notification 9/2025-Integrated Tax (Rate), para 1(iv) and Schedule IV, Schedule IV S. Nos. 5 and 10

    Researcher's note: Official original held (CBIC portal). The CGST/SGST rate notifications for intra-State supply were not read.

  • IGST exemption on gold imported by listed banks and agencies

    Gold or silver imported by the banks in List 13, gold by the banks in List 14 (incl. SBER Bank from 25 Jun 2025, domestic consumption only), gold/silver/platinum by the entities in List 15 (HHEC, MSTC, Diamond India) of 45/2025

    Rate
    IGST nil
    Paid by
    Nominated bank / agency
    Collected by
    Customs
    Primary lawNot recorded

    Legal basis: 45/2025-Customs TABLE I S. No. 198, column (5); Lists 13-15; 06/2026

    Researcher's note: [time-limited] Lists 13 and 14 are stated valid 1 Apr 2025 to 31 Mar 2026. [unconfirmed] No FY 2026-27 bank list was found in the notifications read to No. 30/2026-Customs (21 Aug 2026); WGC reported banks pausing imports in 2026 pending the exemption.

  • Concessional duty on gold bars/coins brought by an eligible passenger

    Gold bars (non-tola) with engraved serial number and metric weight, gold coins of 99.5% or more, and other gold except studded ornaments, up to 1 kg per eligible passenger (Indian-origin passenger or passport holder after six months abroad), duty paid in convertible foreign currency (condition 23)

    Rate
    BCD 10% from 13 May 2026 (5% before); AIDC 4.35% (11/2021 Sl. No. 15C as substituted by 44/2025 and amended by 16/2026)
    Base
    Tariff value US$ 1373 per 10 grams from 16 Sep 2026 (75/2026-Customs (N.T.) TABLE-2 Sl. No. 1: gold in any form for which S. No. 194 of 45/2025 is availed)
    Paid by
    Eligible passenger
    Collected by
    Customs
    Primary lawNot recorded

    Legal basis: 45/2025-Customs S. No. 194 and condition 23, as amended by 15/2026; 11/2021 Sl. No. 15C (44/2025, 16/2026)

    Researcher's note: [time-limited] S. No. 194 has effect only until 31 Mar 2027 (02/2026).

  • Royalty on gold mined in India

    Gold mined in India (small domestic production; not a gold-origin country in this model)

    Rate
    Primary gold: 4% of the LBMA price ("London Price") on the gold metal in ore produced; by-product gold: 3.3% of the LBMA price on the by-product gold actually produced
    Base
    LBMA price of contained/produced gold
    Paid by
    Holder of a mining lease
    Collected by
    State Government
    Primary lawNot recorded

    Legal basis: MMDR Act 1957 s.9 and Second Schedule, s.9(2); Second Schedule item 21

    Researcher's note: [inferred] Collector (State Government as lessor) is not stated in the extract read.

  • BIS hallmarking fee

    Rate
    Rs 45 per gold article, minimum Rs 200 per consignment, payable by the jeweller to the AHC; BIS levies Rs 4.50 per article (minimum Rs 20) from the AHC; applicable taxes extra
    Primary lawNot recorded

    Legal basis: BIS (Hallmarking) Regulations 2018, Schedule IV as substituted by the Amendment Regulations 2022, Schedule IV, paras 1(a)-(b)

Controls

  • Gold Advance Authorisations capped at 100 kg; physical inspection for first-time applicants; next AA only after 50% of prior export obligation; fortnightly CA-certified reporting.

    Kind
    Import restriction
    Threshold
    100 kg per AA
    Valid from
    2026-05-14
    SecondaryNot recorded

    Researcher's note: [transcription] Text of PN 11/2026-27 as reproduced by TaxGuru; [blocked] DGFT copy not obtainable (403).

  • Passengers carrying dutiable or prohibited goods must declare their accompanied baggage electronically in Customs Baggage Declaration CBD-I, with supporting documents, before entering the green channel; gold or silver other than ornaments is outside the free allowances.

    Kind
    Cross-border declaration
    Valid from
    2026-02-02
    Primary lawNot recorded

    Legal basis: Customs Baggage (Declaration and Processing) Regulations 2026; Baggage Rules 2026, reg. 3(1); r.5 and Annexure-I item 5

  • Trade credit (supplier's or buyer's credit incl. LC usance) for gold in any form max 90 days from shipment (C.11.2); QJs and TRQ holders may remit advances for IIBX purchases for eleven days, unused advance returned to the same AD bank within eleven days, Bill of Entry submitted to the remitting bank (C.11.3, C.11.4); all domestic sale of gold against upfront payment and nominated banks free to grant gold metal loans (C.11.1(ii)); sale of gold coins and medallions by banks prohibited pending review (C.11.1(iv)); evidence of import (BoE number, port code, date) in IDPMS (C.7).

    Kind
    Currency control
    Official guidanceNot recorded

    Legal basis: RBI Master Direction - Import of Goods and Services, paras C.7, C.11.1-C.11.4

  • Gold of heading 7108 is "Restricted": imported only by nominated banks and nominated agencies (consignment basis), and by IFSCA-notified Qualified Jewellers and valid India-UAE CEPA TRQ holders through IIBX under specific ITC(HS) codes (71081210, 71081290); all domestic sale of gold is against upfront payment; dore (gold content not over 95%) only by actual users for refining to 99.5% or more.

    Kind
    Import restriction
    Valid from
    2025-05-19
    Official guidanceNot recordedBlocked

    Legal basis: ITC(HS) Schedule I policy conditions (DGFT notifications 49/2015-2020, 35/2023, 08/2025-26); RBI Master Direction C.11.1(ii); 45/2025-Customs condition 22, RBI MD para C.11.1(ii)

    Researcher's note: [blocked] The DGFT notifications (policy text itself) are not held: DGFT site returns 403. Statement rests on the RBI Master Direction and the IFSCA circular (both read in full), which restate them.

  • Gold jewellery and artefacts may be sold only by BIS-registered jewellers and must bear a hallmark to IS 1417 (cl. 2); the Order applies only to the districts in its Annexure (cl. 1A) - 385 districts in 26 States/UTs since S.O. 2117(E) of 28 Apr 2026. Exempt (cl. 2(3)): articles for export to buyer specification, under 2 g, in consignment to a recognised AHC, for medical/dental/veterinary/scientific/industrial use, gold thread, unfinished articles, gold bullion in any shape of bar, plate, sheet, foil, rod, wire, strip, tube or coin, articles for export and re-import, international or approved domestic B2B exhibitions, Kundan, Polki and Jadaau, watches and fountain pens, and jewellers with annual turnover up to Rs 40 lakh.

    Kind
    Bar standard
    Valid from
    2021-06-01
    Primary lawNot recorded

    Legal basis: Hallmarking Order 2020 as amended (S.O. 2481(E) 2021; S.O. 1594(E) 2022; S.O. 2117(E) 2026), cls. 1A, 2

  • IIBX accepts only bars from LBMA Good Delivery or UAE Good Delivery refiners (spot: LBMA 995 1 kg, UAEGD 999 100 g).

    Kind
    Bar standard
    Official guidanceBlockedNot recorded

    Researcher's note: IIBX pages not held (403); IFSCA FAQ 17 (held) says good delivery standards are prescribed by the exchange in line with the OECD due diligence guidance.

  • Gold, silver and platinum jewellery (CTH 7113) moved from Free to Restricted from 1 Apr 2026, and articles, clad items and non-legal-tender coins from 2 Apr 2026; no transitional relief; exemptions for EOU/SEZ (no DTA sale), FTP export schemes and CEPA TRQ lines.

    Kind
    Import restriction
    Valid from
    2026-04-01
    SecondaryNot recorded

    Researcher's note: [blocked] DGFT notifications 02/2026-27 and 03/2026-27 not obtainable (DGFT 403); press and TaxGuru summaries only.

  • Dealers in precious metals and stones that engage in cash transactions with a customer of Rs 10 lakh or more (single or apparently linked) are persons carrying on a designated business or profession and so reporting entities; CBIC (DGA) is their regulator. They must register with FIU-IND (FINGate 2.0) at the first such transaction, appoint a Principal Officer and Designated Director, apply CDD (Rule 9 PMLR; verify identity for transactions of Rs 50,000 or more), EDD for higher risk (s.12AA), keep records five years (s.12), report cash transactions monthly by the 15th of the next month and suspicious transactions promptly on being satisfied that a transaction is suspicious (Rule 8(2) as now in force). All dealers, whatever their size, must screen against UNSC/UAPA and WMDA lists (DGA paras 10-11).

    Kind
    Anti-money laundering
    Threshold
    Rs 10 lakh cash
    Valid from
    2020-12-28
    Primary lawNot recorded

    Legal basis: PMLA s.2(1)(sa)(iv), ss.11A, 12, 12AA; PMLR rr.3, 8, 9; G.S.R. 799(E) and 800(E) of 28 Dec 2020; DGA guidelines 2023, PMLA ss.2(1)(sa)(iv), 12, 12AA; PMLR r.8

    Researcher's note: [conflict] in.div-conflict-str-deadline: PMLR r.8(2) now says "promptly"; the DGA guidelines and the FIU-IND guidance still give seven (working) days; the model follows the Rule. G.S.R. 799(E) itself not held (quoted in DGA para 2.2(e)); r.2(1)(fa)(iii) (CBIC as regulator) read in the FIU-IND consolidation.

  • CEPA preference on gold requires UAE origin: the product-specific rule for 710812 is "Certified UAE/ India good delivery gold bars in different denomination"; goods must be transported directly (art. 3.12) and origin proved under the Customs (Administration of Rules of Origin under Trade Agreements) Rules 2020 (22/2022 proviso); IIBX TRQ contracts accept only UAEGD bars with country-of-origin certification.

    Kind
    Origin marking
    Primary lawNot recorded

    Legal basis: CEPA Annex 3B (PSR 710812), arts 3.12-3.14; Notification 22/2022-Customs proviso to para 1

    Researcher's note: The IIBX contract rule (UAEGD only) comes from the IIBX pages (official-guidance, not held: 403).

  • No person may receive Rs 200000 or more in cash (in aggregate from a person in a day, in a single transaction, or for transactions relating to one event or occasion from a person); only account payee cheque or draft, ECS through a bank account or prescribed electronic modes. Penalty equal to the sum received (s.451). Before 1 Apr 2026 the same limit was s.269ST of the Income-tax Act 1961 (penalty s.271DA), as quoted by the DGA guidelines.

    Kind
    Cash limit
    Threshold
    Rs 200000
    Valid from
    2026-04-01
    Primary lawNot recorded

    Legal basis: Income-tax Act, 2025, ss.186, 451

    Researcher's note: Act as enacted; Finance Act 2026 amendments to s.186 not checked.

Trade flows

  • IIBX participants in FY 2024-25: 171 Qualified Jewellers, 25 Qualified Suppliers, 441 TRQ-qualified jewellers (secondary). CEPA gold TRQ quantity is law: 120 t (2022), 180 t (FY 2025-26), 200 t (FY 2026-27) under 22/2022 TABLE III S. No. 12.

    Figures: TRQ 200 t (FY 2026-27, Notification 09/2026-Customs)

    SecondaryNot recorded

    Researcher's note: Participant counts secondary; TRQ quantities primary-law.

  • Official gold imports stayed resilient across duty regimes; April 2026 imports were about US$5.6bn (48-55 t), up 80% y/y ahead of the May duty hike.

    Figures: 175-236 t per quarter historically; Apr 2026 US$5.6bn

    SecondaryNot recorded

  • Official import statistics: "The averages of monthly shares of quantities of gold import during the period from Apr-2022 to Mar-2025 from Switzerland, the UAE, and South Africa had been observed as 28.7%, 19% and 8.7%, respectively" (31.9%, 21.3% and 9.6% by value). Annual imports 678.3 t (FY 2022-23), 795.2 t (FY 2023-24), 669.3 t (FY 2024-25); USD 35.0bn, 45.5bn, 51.6bn.

    Figures: Switzerland 28.7%, UAE 19%, South Africa 8.7% of quantity (monthly average, Apr 2022-Mar 2025)

    Official guidanceNot recorded

    Researcher's note: Read through a verbatim WebFetch of the DGCI&S PDF; not held (statistics, not law).

Where practice departs from the law

What credible sources show happening that the law does not provide for.

  • The 2026 tightening (jewellery restricted, AA gold cap, facility inspections) is stated to target misuse and diversion of duty-free or preferential gold into the domestic market.

    SecondaryNot recorded

  • [conflict] Secondary reports of the May 2026 changes differ from the notification texts: BullionLive cites a "Notification 27/2026" and a 15% BCD plus 1% AIDC; TaxGuru gives findings at 5% BCD. Notifications 15/2026 and 16/2026 (held, checked against the official portal) set BCD at 10% on gold, dore and findings, AIDC 5% on Sl. 15D and on gold/silver findings, and no Notification 27/2026-Customs concerns gold (27/2026 amends 25/2002). The model follows the notifications. Affected: in.tax-duty-2026, in.tax-ch71-articles-2026, in.tax-dore-2026.

    Primary lawNot recorded

  • [conflict] Deadline for suspicious transaction reports by dealers in precious metals. (1) PMLR r.8(2) as now in force (FIU-IND consolidation, laws/in-india/pml-maintenance-of-records-rules-2005-fiu-consolidated.md, and the FIU-IND HTML text of the Rules): the principal officer "shall, on being satisfied that the transaction is suspicious, furnish the information promptly in writing by fax or by electronic mail to the Director". (2) The ED consolidation to 2017 (pml-maintenance-of-records-rules-2005-ed-copy.md): "not later than seven working days on being satisfied that the transaction is suspicious" (superseded wording). (3) DGA guidelines 2023: para 4.8 says Rule 8(2) "provides for prompt reporting of a suspicious transaction", but para 5.1.3(a) says it "shall be furnished within seven working days of its occurrence as per Rule 8(2)". (4) FIU-IND guidance para 5: "within 7 days of forming such a suspicion". The model follows the Rule as now in force ("promptly"): the guidance documents are subordinate to it, and a dealer filing within the guidance period may still be late under the Rule. Affected: in.st-44, in.ctl-pmla-dpms.

    Primary lawNot recorded

  • Importers declared ~99% gold as platinum alloy to claim India-UAE CEPA benefits; DGFT created a separate 99% platinum line in May 2025 to close the loophole.

    SecondaryNot recorded

  • Smuggling tracks the duty differential: unofficial imports rose from about 10 t (Q1 2013) to 70 t (Q1 2014) after the 2013 hikes, from 17 t to nearly 50 t after the July 2022 rise to 15%, and fell to near zero after the July 2024 cut to 6%. The May 2026 return to 15% recreates the incentive.

    Figures: correlation 0.52 between duty and smuggling (ex 2020-21)

    SecondaryNot recorded

What we could not obtain

Documents the research needed and could not get, where they might be, and why.

  • FY 2026-27 lists of banks authorised to import gold (HBP Appendix 4B) and Lists 13-14 of 45/2025 (IGST exemption).

    Where it might be
    https://content.dgft.gov.in/Website/Appendix+4B.pdf (updated version); CBIC notifications after 21 Aug 2026
    Why not obtained
    Appendix 4B file on the DGFT content server is the FY 2025-26 version (Jan 2026); no 45/2025 amendment renewing the lists was found among Customs notifications to No. 30/2026 (21 Aug 2026)
    Affects
    in.cr-nominated-bankin.tax-igst-nominated-exemptin.st-03

  • Notification 21/2025-Customs (TRQ 180 t for FY 2025-26) and Notification 50/2017-Customs (superseded; needed only to describe the 2022-2024 serials) not held.

    Missing document
    CBIC tax-information portal files (see laws/_work/in-fetch.tsv)
    Where it might be
    https://taxinformation.cbic.gov.in/content/pdf/tax_repository/customs/notifications/... (returns the PDF base64 in JSON)
    Why not obtained
    21/2025: every Mac-host worker fetch (seven) failed with curl errors or timeouts on 2026-09-29; the other 23 CBIC files were obtained from the same API. 50/2017 not attempted: superseded on 1 Nov 2025 and needed only for history.
    Affects
    in.tf-iibxin.tax-duty-2022

  • CEPA Annex 2A (India's schedule of tariff commitments, incl. the gold TRQ commitment) and the TRQ side letters.

    Where it might be
    Department of Commerce CEPA page (commerce.gov.in)
    Why not obtained
    The held agreement copy has cover pages only for Annexes 2A/2B; the applied TRQ is read in Notification 22/2022-Customs
    Affects
    in.law-cepa

  • Customs Act 1962 as amended by the Finance Acts 2023-2026 (the held CBIC consolidation stops at 30 Mar 2022).

    Missing document
    Customs Act 1962 (current consolidation)
    Where it might be
    https://www.indiacode.nic.in/bitstream/123456789/2475/1/a1962-52.pdf; CBIC portal "explore-act" pages
    Why not obtained
    indiacode.nic.in returned 504 to the Mac host three times (2026-09-28/29); the CBIC portal serves only the 2022 consolidated HTML; queued in in-fetch.tsv
    Affects
    in.law-customs-act-1962

  • DGFT notifications 44/2023, 08/2025-26, 18/2025-26, 02/2026-27, 03/2026-27 and Public Notices 11/2026-27, 18/2026-27 (import policy of gold and jewellery, AA cap, TRQ validity).

    Missing document
    DGFT notifications and public notices
    Where it might be
    https://www.dgft.gov.in/CP/?opt=notification (PDFs on content.dgft.gov.in with unknown paths); Gazette of India Part II s.3(ii)
    Why not obtained
    www.dgft.gov.in returns CloudFront 403 "Request blocked" to the Mac host (curl) and to Chrome on the Mac (2026-09-28/29); a cloud WebFetch of the notifications page returns the 2025-26 titles only, without file links; press copies are behind paywalls (Taxscan "Subscribers only"). Requested in laws/_work/in-requests.md.
    Affects
    in.ctl-gold-restrictedin.ctl-jewellery-restrictedin.ctl-aa-capin.law-dgft-08-2025in.law-dgft-02-2026in.law-dgft-03-2026in.st-50

  • DRI Smuggling in India reports (seizure data, routes).

    Where it might be
    https://dri.nic.in/main/smgReports
    Why not obtained
    The 2024-25 page on dri.nic.in (held) is an empty shell; the reports list has no extractable PDF links; press mentions only
    Affects
    in.div-smuggling-duty

  • Current (amended) FTP 2023 and Handbook of Procedures chapters; ITC(HS) Schedule I Chapter 71 policy table.

    Where it might be
    https://www.dgft.gov.in/CP/?opt=ft-policy
    Why not obtained
    FTP 2023 and HBP Chapter 4 as issued (1 Apr 2023) are held; the as-amended versions are on the blocked DGFT site (403)
    Affects
    in.cr-aain.st-51in.st-52

  • Customs formalities for bars entering and leaving the IFSC vault (SEZ procedures) and the IFSCA circular of 18 Aug 2022 on Qualified Suppliers; IFSCA amendment of 15 Jun 2026.

    Where it might be
    https://ifsca.gov.in (Legal Framework > Circulars); https://www.iibx.co.in/Circular/Index
    Why not obtained
    IFSCA circulars page is script-driven (no links in the HTML fetched by the Mac host); IIBX site returns 403 to the Mac host
    Affects
    in.st-10in.st-24in.cr-qsin.cr-qj

  • Any RBI/DGFT licensing of refineries beyond the actual-user condition; Forms IGCR-1 to IGCR-4 layouts.

    Missing document
    none identified
    Where it might be
    https://thc.nic.in/Central%20Governmental%20Rules/Customs%20(Import%20of%20Goods%20at%20Concessional%20Rate%20of%20Duty%20or%20for%20Specified%20End%20Use)%20Rules,%202022.pdf; CBIC portal (74/2022-Customs (N.T.))
    Why not obtained
    IGCR Rules 2022 now held (thc.nic.in scan, OCR checked): rule 4 one-time prior information in Form IGCR-1 and IIN, continuity bond (r.4(3)), IIN and bond on the Bill of Entry (r.5(1)), monthly statement IGCR-3 by the tenth day (r.6(2)); "job work" excludes gold (r.3(1)(g)). No separate refinery licence was found in any text held; BIS refinery licence is voluntary.
    Affects
    in.st-30in.st-31

  • UAPA 1967 (s.51A) and WMD Act 2005 (s.12A) texts, which the DGA guidelines apply to every dealer in precious metals for sanctions screening.

    Missing document
    Unlawful Activities (Prevention) Act 1967; Weapons of Mass Destruction and their Delivery Systems (Prohibition of Unlawful Activities) Act 2005
    Where it might be
    indiacode.nic.in; https://fiuindia.gov.in (Legislation > Section 12A of WMD Act)
    Why not obtained
    NIA copy of the UAPA returned 404, FIU-IND WMD page a bot challenge, indiacode 504; requested (in-requests.md). The provisions are read as quoted in the DGA guidelines (para 10.2 quotes s.51A).
    Affects
    in.ctl-pmla-dpms

Routes through India

Country pairs

Sources

Every source this country's research cites, with how much of it was read and how.