Govt permits export of gold idols of 8-24 carats with certain conditions

New Delhi: The federal government has allowed export of gold idols of eight carats and as much as 24 carats with sure situations, in accordance with a notification of the commerce ministry.

Nevertheless, these exports are allowed solely from the home tariff space.

Representational picture. Reuters.

International commerce coverage has been amended “to permit export of gold idols (solely gods and goddess) of Eight carats and above (as much as 24 carats) from home tariff space,” Directorate Normal of International Commerce (DGFT) has mentioned in a notification.

The situations for abroad shipments of the idols embrace 100 p.c examination of those exports by the accepted authorities valuer, overseas remittance needs to be realised inside a interval of three months from the date of exports, and necessary submission of export order by exporters.

Exporters would additionally need to make a transparent distinction between a spiritual idol and easily moulded gold article/idol.

Apart from, the exports can be allowed solely by precise producers of such idols, the notification mentioned.

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