Switzerland (refine) → Russian Federation → India · Sale of bullion on IIBX

Where the goods start

Doré bar - unstamped → LBMA Good Delivery 400oz bar

• Banks identify the contracting party and beneficial owner for precious-metals trading and for cash transactions over CHF 15,000 (CDB 20; Form A, Form K).

  CHF 15,000 cash

  StandardAmount not confirmed

  • CDB 20 (SBA), CDB Art. 4(2)(f)-(g), 7, 20-21, 27-28

• Melt material imported from abroad for sale in Switzerland needs a formal import declaration; simplified and oral declarations are excluded in principle. A buyer or licensee who accepts melt material that has not been through customs breaches due diligence under the PMCA: fine up to CHF 2,000 per ca…

  Official guidance

  • BAZG Merkblatt 'Annahme von Schmelzgut aus dem Ausland' (Jan 2024)

• Commercial production of melt products (bars, plates, rods, granules made by melting precious metal or melt material) requires a melt licence; acting without it is punishable by a fine (EMKG Art. 48). Every melt product must bear the licence holder's stamp; melt products for resale must be assayed b…

  Primary law

  • EMKG/PMCA (SR 941.31), Arts. 1(2), 24, 31(1), 32-33, 47, 48

• Holders of a melter licence may accept melt material only from persons who can prove lawful acquisition, and must verify the customer's identity by a probative document such as a passport or identity card. Where origin is doubtful or the offer comes from unknown persons, origin must be clarified wit…

  Primary law

  • PMCO/EMKV (articles in refs), EMKV (SR 941.311, Stand 1 Jan 2024) Art. 168a Abs. 1 (parsed into section sch-2)

    “Der Inhaber einer Schmelzbewilligung darf Schmelzgut nur von Per-”

  • PMCO/EMKV (articles in refs), EMKV (SR 941.311, Stand 1 Jan 2024) Art. 168a Abs. 2 (parsed into section sch-2)

    “Es muss die Identität des Kunden anhand eines beweiskräftigen Do- kumentes wie Pass oder Identitätskarte überprüfen.”

  • PMCO/EMKV (articles in refs), EMKV (SR 941.311, Stand 1 Jan 2024) Art. 168a Abs. 3 (parsed into section sch-2)

    “Bestehen über die Herkunft der Ware Zweifel oder stammen die An- gebote von Unbekannten, so ist der Inhaber der Schmelzbewilligung verpflichtet, die Herkunft des Schmelzgutes besonders sorgfältig abzu- klären.”

  • PMCO/EMKV (articles in refs), EMKV (SR 941.311, Stand 1 Jan 2024) Art. 168b Abs. 1 (parsed into section sch-2)

    “derlichen organisatorischen Massnahmen, um das Schmelzen von Schmelzgut unrechtmässiger Herkunft zu verhindern.”

  • PMCO/EMKV (articles in refs), EMKV (SR 941.311, Stand 1 Jan 2024) Art. 168b Abs. 2 (parsed into section sch-2)

    “so ist die Ware durch den Inhaber der Schmelzbewilligung bis zur Klärung des Falles in unverändertem Zu- stand aufzubewahren.”

  • PMCO/EMKV (articles in refs), EMKV (SR 941.311, Stand 1 Jan 2024) Art. 168b Abs. 3 (parsed into section sch-2)

    “Schmelzprodukten müssen während zehn Jahren aufbewahrt werden.”

  • PMCO/EMKV (articles in refs), EMKV (SR 941.311, Stand 1 Jan 2024) Art. 168c Abs. 1 (parsed into section sch-2)

    “Der Inhaber einer Schmelzbewilligung muss über seine Ankäufe von Schmelzgut und Schmelzprodukten Buch führen.”

  • PMCO/EMKV (articles in refs), EMKV (SR 941.311, Stand 1 Jan 2024) Art. 168c Abs. 2 Bst. b (parsed into section sch-2)

    “die in Artikel 168a Absatz 2 vorgeschriebenen Identifikations- nachweise;”

  • PMCO/EMKV (articles in refs), BAZG Schmelzen und Prüfen (Dec 2023) Ziff. 4.1.6 (restates Art. 168a)

    “Er muss die Identität des Kunden anhand eines beweiskräftigen Dokumentes wie Pass oder Identitätskarte überprüfen und muss sich vor Ausführung des Auftrages den rechtmässigen Erwerb des Schmelzgutes durch den Auftraggeber nachweisen lassen.”

  • PMCO/EMKV (articles in refs), BAZG Schmelzen und Prüfen (Dec 2023) Ziff. 4.1.6 (restates Art. 168b Abs. 3)

    “Die Dokumente über den Geschäftsverkehr mit Schmelzgut und Schmelzprodukten müssen während zehn Jahren aufbewahrt werden.”

  • PMCO/EMKV (articles in refs), BAZG Richtlinie R-247 (1 Jan 2023) Ziff. 3.3.2

    “Bestehen Zweifel über die Herkunft des Materials oder in Bezug auf die Integrität des Kunden sind Bewilligungsinhaber verpflichtet, den Sachverhalt besonders sorgfältig abzuklären”

• Purchase, import, transit and transport of gold (Annex 26) originating in Russia and exported from Russia after 4 Aug 2022, and of gold processed from it in third countries, are prohibited, as are related services (all kinds, including financial services, brokerage and technical assistance) and the …

  Primary law

  • Ordinance of 4 March 2022 on measures in connection with the situation in Ukraine (SR 946.231.176.72), Art. 14d

• Precious metals are 'sensitive goods' in free ports (Customs Ordinance Annex 2, as amended on 18 November 2015): the declarant must declare them electronically on entry into storage, and an electronic inventory record of them is kept per depositor and submitted by the warehouse keeper to customs on …

  Primary law

  • Customs Ordinance (ZV) as amended on 18 November 2015 (articles in refs), AS 2015 4917, ZV Anhang 2 (sensitive goods) as amended

    “Anhang 2 wird wie folgt geändert:”

  • Customs Ordinance (ZV) as amended on 18 November 2015 (articles in refs), ZV Anhang 2 Ziff. 5: precious metals ex tariff chapter 71

    “Perlen, Diamanten, Edelsteine, Schmucksteine, Edelmetalle und Edel- metallplattierungen sowie Waren daraus (ex Zolltarifkapitel 71)”

  • Customs Ordinance (ZV) as amended on 18 November 2015 (articles in refs), AS 2015 4917 Ziff. IV: in force

    “Diese Verordnung tritt am 1. Januar 2016 in Kraft.”

  • Customs Ordinance (ZV) as amended on 18 November 2015 (articles in refs), ZV Art. 178a Abs. 1: electronic declaration on entry into the free port

    “Die anmeldepflichtige Person muss sensible Waren bei der Einlagerung ins Zoll- freilager elektronisch anmelden.”

  • Customs Ordinance (ZV) as amended on 18 November 2015 (articles in refs), ZV Art. 185: inventory record per depositor

    “Die Bestandesaufzeichnung für sensible Waren ist je Einlagererin oder je Einlagerer zu führen.”

  • Customs Ordinance (ZV) as amended on 18 November 2015 (articles in refs), ZV Art. 184 Abs. 2: kept electronically

    “Sie muss elektronisch geführt werden.”

  • Customs Ordinance (ZV) as amended on 18 November 2015 (articles in refs), ZV Art. 184 Abs. 3bis: warehouse keeper submits it on request

    “Auf Verlangen muss die Lagerhalterin oder der Lagerhalter der EZV die”

  • Customs Ordinance (ZV) as amended on 18 November 2015 (articles in refs), AS 2015 4917, ZV Art. 246a: amendment date

    “Übergangsbestimmungen zur Änderung vom 18. November 2015”

  • Customs Ordinance (ZV) as amended on 18 November 2015 (articles in refs), BAZG R-10-50 (1 Jul 2025) s.1.3.1: export goods count as sensitive goods

    “Ausfuhrwaren gelten als sensible Waren”

  • Customs Ordinance (ZV) as amended on 18 November 2015 (articles in refs), R-10-50 s.4.1: inventory records over all sensitive goods

    “Bestandesaufzeichnungen nach den Grundsätzen der ordnungsgemässen Buchführung”

• Cash threshold for dealers in goods (anti-money laundering)

  Primary law

  • GwG Art. 8a(1)

    “Händlerinnen und Händler nach Artikel 2 Absatz 1 Buchstabe b müssen folgende”

  • GwG Art. 8a(1)(a)

    “Identifizierung der Vertragspartei (Art. 3 Abs. 1);”

• Cash threshold for dealers in gold (anti-money laundering)

  Primary law

  • GwG Art. 8a(1)

    “Händlerinnen und Händler nach Artikel 2 Absatz 1 Buchstabe b müssen folgende”

  • GwG Art. 8a(1)(a)

    “Identifizierung der Vertragspartei (Art. 3 Abs. 1);”

  • GwG Art. 8a(2bis)

    “oder Edelsteinen beträgt die massgebende Schwelle im Sinne von Ab-”

  • EMKG Art. 1(1)

    “Edelmetalle im Sinne dieses Gesetzes sind Gold, Silber, Platin und Palladium.”

On the way

• VAT on precious metals

  0% on sales of precious metals by mining or producing taxpayers to the State Fund, regional funds, the Bank of Russia and banks (art. 164(1)(6)); 0% on goods exported under the export customs procedure (art. 164(1)(1)); 0% on ores and concentrates sold by miners to listed refiners for refining (art. 164(1)(6³)); exempt: sales of precious metals to the State Fund, CBR and banks by others, bank and CBR sales of bars to banks, sales of refined bars (except silver) by banks, refiners and Goznak to individuals, and bank sales of bars kept in the vault (art. 149(3)(9)); exempt: legal-tender precious-metal coins (art. 149(2)(11))

  Primary lawAmount not confirmed

  • Tax Code Part Two, ch. 21, arts. 149(2)(11), 149(3)(9), 164(1)(1), (6), (6³)

• FPP state control of every import from and export to non-EAEU states of goods in tables 1 and 3 of section 2.10 (41-FZ art. 26²; Decree 1137 para 19(b)): the whole batch is presented (for ores and concentrates, HS 2616, the documents only) and controlled within 5 working days; checks of the batch a…

  Primary law

  • EEC Board Decision 30, Annex 14, Annex 2 (Rules) paras 3, 4, 7, 8, 10; Presidential Decree 1137 paras 19, 19¹, Rules paras 3, 10

• From 1 May 2026 export from Russia of refined gold in bars with a total weight over 100 g by individuals, legal entities and entrepreneurs is prohibited, except (a) to EAEU member states through the international airports Moscow (Vnukovo), Moscow (Domodedovo), Moscow (Sheremetyevo) and Vladivostok (…

  Total weight over 100 g

  Primary lawAmount not confirmed

  • Presidential Decree 193 of 25.03.2026; Government Decree 450 of 23.04.2026, para 2, para 4

• Purchase and sale of precious metals (and jewellery and scrap) of RUB 1,000,000 or more is subject to mandatory control and reported to Rosfinmonitoring by the seller within 3 working days; individuals buying jewellery up to RUB 60,000 (RUB 400,000 with a personalised e-payment means) are not identi…

  RUB 1,000,000

  Primary lawAmount not confirmed

  • Law 115-FZ, art. 6(1)(4) sixth paragraph; art. 7(1.4-2)

• Only listed refiners, Goznak and credit organisations may sell refined (investment) bars to individuals, and retailers only bars received on commission or agency from them; buy-back dealers and pawnshops may pass bars bought from individuals only to refiners. Deals between individuals in precious me…

  Primary law

  • Government Decree 604 of 15.05.2024 (Rules paras 3-4, 8); 41-FZ art. 22(6), Rules para 4

• No gold-specific cash-payment limit was found. The RUB 1,000,000 mandatory-control threshold applies whatever the means of payment.

  Unverified

• Export to non-EAEU states of goods in tables 1 and 2 of section 2.10 of the EAEU Single List (table 1 includes refined gold in bars, plates, powder and granules, unique and non-refinable nuggets, other unwrought gold incl. dore, scrap, ores and concentrates) requires a licence issued by Minpromtorg …

  Primary law

  • Presidential Decree 1137 (Regulation paras 4, 22, 23); EEC Board Decision 30, Annex 14 para 5; Minfin Order 10n, paras 4, 22, 23

• Residents must receive export proceeds on their accounts in authorised banks (173-FZ art. 19(1)(1)). Under art. 19(8) this does not apply to contracts priced or payable in foreign currency, except for goods listed there; the list includes HS 7101-7103 and 7112 but not 7108 (gold). Where art. 19 appl…

  Primary law

  • Federal Law 173-FZ art. 19; Presidential Decrees 79 (para 2) and 430, art. 19(1), (8)

• Traceability: participants must record precious-metal operations in GIIS DMDK, with UINs and electronic accompanying documents between participants; refiners report receipt and shipment of metal in any form.

  Primary law

  • 41-FZ art. 12², art. 20(2); Government Decree 270 of 26.02.2021, art. 12²

• Refined metal in standard form must, before it enters circulation, be offered by a purchase proposal to the State Fund institution under Minfin and to the authority of the mining region (where a regional fund exists) - for the next year by 31 December, with an additional proposal within 10 working d…

  Primary law

  • Federal Law 41-FZ, art. 2(5), art. 20(4)-(5)

• LBMA suspended six Russian refiners on 7 Mar 2022; their bars produced from that date are not Good Delivery; Russian bars already in loco London/Swiss before then remain Good Delivery, with clearing banks attesting conformity.

  Standard

• Mined and produced precious metals (except nuggets) must, after the necessary processing, go for refining to organisations on the Government list (41-FZ art. 20(1)); only listed organisations may refine (art. 4(4)); the refining agreement's mandatory terms and the refiner's reporting duties are set …

  Primary law

  • Federal Law 41-FZ, art. 20(1)

• Switzerland: purchase, import, transit and transport into and through Switzerland of gold under Annex 26 (includes HS 7108) originating in Russia and exported from Russia after 4 August 2022 are prohibited (Art. 14d(1)); the same applies to such gold processed in a third country (Art. 14d(2)) and, s…

  Primary law

  • Swiss Ukraine Ordinance SR 946.231.176.72 (Stand 21.09.2026), Art. 14d

• EU: it is prohibited to purchase, import or transfer, directly or indirectly, gold listed in Annex XXVI (HS 7108; 7112 91 gold waste and scrap; ex 7118 90 gold coins) that originates in Russia and was exported from Russia into the Union or to any third country after 22 July 2022 (art. 3o(1)); the sa…

  Primary law

  • Regulation (EU) 833/2014 as amended by 2022/1269, art. 3o

• Japan: import of precious metals originating in Russia and shipped from Russia on or after 1 August 2022 requires the Minister of Finance's permission under FEFTA art. 19(2) (MOF Notice No 443 of 2006 as amended 25 July 2022, item 4); the government announced it on 5 July 2022 as an import ban.

  Primary law

  • MOF Notice No 443 of 2006 as amended 25 Jul 2022, item 4

• UK: import of gold originating in Russia and exported from Russia on or after 21 July 2022 is prohibited (reg 46Z11, Chapter 4J inserted by SI 2022/850, in force 21 Jul 2022), with prohibitions on acquisition with intent to import, supply and delivery, technical assistance, financial services and br…

  Primary law

  • Russia (Sanctions) (EU Exit) Regulations 2019, regs 46Z11-46Z16, 46Z16A-46Z16C

• US: import of gold of Russian Federation origin is prohibited from 28 Jun 2022, except gold located outside Russia before that date (OFAC determination under E.O. 14068 s. 1(a)(i)(A), amended version of 22 Dec 2023). U.S. persons may not deal with the Central Bank, the National Wealth Fund or the Mi…

  Primary law

  • E.O. 14068 and the OFAC determination; E.O. 14024 as amended by E.O. 14114, E.O. 14068 s. 1(a)(i)(A); E.O. 14024 s. 11

    “the importation into the United States of … products of Russian Federation origin”

• Temporary ban from 1 June to 30 November 2026 on export from Russia of precious-metal waste and scrap (HS 7112) and electrical and electronic waste used mainly to recover precious metals (8549 21 000 0, 8549 29 000 0), with exceptions for samples of up to 500 g per batch exported by listed refiners …

  Primary law

  • Government Decree 558 of 16.05.2026, para 1

• Legal entities, entrepreneurs and artist-jewellers operating with precious metals must be on the FPP special register kept in GIIS DMDK; those that should be registered and are not may not carry out operations (41-FZ art. 13¹(2)). Registration within 30 calendar days of state registration (Rules pa…

  Primary law

  • 41-FZ art. 13¹; Government Decree 1052 (Rules paras 2, 5), art. 13¹

• Precious metals and products from them are transported by air, sea, inland water, rail or specialised equipped road vehicles under armed escort; raw materials with less than 1% gold (or 5% silver), jewellery, investment metals (within a weight limit set by the Government) and some other items may mo…

  Primary law

  • Federal Law 41-FZ, art. 29(3)

Where the goods arrive

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

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

  Primary lawAmount not confirmed

  • Baggage Rules 2026, r.6; r.5 and Annexure-I item 5

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

  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 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

  Primary lawAmount not confirmed

  • 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

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

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

  Primary lawAmount not confirmed

• Customs duty on gold dore

  5.35% combined (BCD 5% + AIDC 0.35%) Gold dore bars with gold content not over 95% imported by actual users for refining (45/2025 S. No. 192, conditions 3 and 22)

  Primary lawAmount not confirmed

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

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

  BCD 10% + AIDC 4.35% (11/2021 Sl. No. 15B, gold dore bar) = 14.35% 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)

  Primary lawAmount not confirmed

  • 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)

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

  15% (dore 14.35%) HS 7108 bars; dore

  Official guidanceAmount not confirmed

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

  6% combined (BCD 5%, AIDC 1%, SWS exempt) Gold bars (HS 7108)

  Primary lawAmount not confirmed

  • 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%)

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

  15% combined (BCD 10%, AIDC 5%) All goods of heading 7108 other than dore (45/2025 TABLE I S. No. 196); silver 7106 likewise (S. No. 197)

  Primary lawAmount not confirmed

  • 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)

• IGST on gold (Schedule IV, 3%)

  3% Heading 7108 gold (Schedule IV S. No. 5) and 7113 jewellery (S. No. 10), among other chapter 71 goods

  Primary lawAmount not confirmed

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

• IGST exemption on gold imported by listed banks and agencies

  IGST nil 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

  Primary law

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

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

  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) 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)

  Primary lawAmount not confirmed

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

• BIS hallmarking fee

  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 lawAmount not confirmed

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

• 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…

  Rs 200000

  Primary lawAmount not confirmed

  • Income-tax Act, 2025, ss.186, 451

• 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.

  100 kg per AA

  SecondaryAmount not confirmed

• 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.

  Primary law

  • 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 ban…

  Official guidance

  • 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 upfro…

  Official guidance

  • 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)

• 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 …

  Primary law

  • 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).

  Official 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.

  Secondary

• 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.…

  Rs 10 lakh cash

  Primary lawAmount not confirmed

  • 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

• 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)…

  Primary law

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

Back in the origin country: the proceeds of the export