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The Economic Times

Govt stops import incentives for exporters of gold medallions and coins

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NEW DELHI: The government has withdrawn incentives being given to exporters of gold medallions and coins for import of raw material, according to a notice by the commerce ministry.

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

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

DGFT is under the commerce ministry.
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