Indian Government tightens gold import rules; plugs Dubai route misuse under CEPA

The government has tightened import rules for gold and silver, restricting their entry into India to only nominated agencies, qualified jewellers, and valid TRQ (Tariff Rate Quota) holders under the India–UAE Comprehensive Economic Partnership Agreement (CEPA), the Economic Times reported.

Only authorised importers can now bring gold or silver under India-UAE CEPA. New codes introduced to curb gold misdeclared as platinum to avoid higher duties. The restrictions apply to unwrought, semi-manufactured, and powdered forms of gold and silver. Backdoor gold route via Dubai closed

The move follows reports that some importers had exploited ambiguities in customs classifications to bring in nearly pure gold from Dubai under the guise of platinum alloy. By misdeclaring gold as platinum, they were able to access lower import duties offered under CEPA.