The government has withdrawn incentives being given to exporters of gold medallions and coins for import of raw material, according to a notice by the commerce ministry.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.
Published 27 September 2019, 13:23 IST