Gold Import Registration in India

04/12/2016

Dated: 04/12/2016

Registration under Gold Import Scheme in India

 

REGISTRATION:

Parties will be assessed on case to case basis after completing the documentation process in all respects.

1) Registration process and documents required thereof

  1. Documents required:-
  1. Exporter’s documents related to business transaction with the overseas buyers of gold Jewellery from India for the last 3 years:
  1. Copy of Overseas Buyer’s confirmed order
  1. Copy of GR form/AWB/Commercial Invoice pertaining to past transactions
  1. Copy of proof for receipt of overseas payments/BRC/LC
  1. Copy of IEC registration
  1. GJEPC registration certificate
  1. Affidavit stating that they are not blacklisted by DRI, ED, Customs, Banks, PSUs and other Govt agencies
  1. Past three year audited Balance Sheet and Profit & Loss Account
  1. Current year provisional Balance Sheet and Profit & Loss Account
  1. Sales tax Documents (CST + Local) and TIN No
  1. Banker’s details
  1. If Proprietor, then business profile to be submitted
  1. If Partnership, then the deed to be submitted
  1. If Company, then memorandum, PAN Card, list of board of directors and Board resolution to be submitted
  1. DNB report
  1. Bank Report/Credibility Report
  1. Custom registration certificate
  1. FEMA Declaration
  1. Documents required from Exporters for Indenting:-
  1. Copy of Overseas Buyer’s confirmed order to execute export
  1. Back-up funds/security collateral (50% of cost of metal) towards 200% of customs duty + VAT + penal Interest etc. FD to be released only after export obligation towards 20% of gold is fulfilled
  1. Indemnity bond (for any claim, loss, damage, quality/quantity issues and any other disputes on connection with import of gold for us)
  1. Exporter’s Undertaking to the License issuing authority to have 1st lien on Imported gold, same will not be pledged and value added Jewellery will be exported ASAP
  1. Undertaking stating that quantity released for export will be used only for export and it is his responsibility for repatriation of entire Export proceeds without any delay through his AD/bank
  1. Associate’s undertaking letter to availing VAT exemption in the prescribed format as per concerned states VAT Act, before every delivery order, if required
  1. Insurance coverage from the period immediately after delivery order and release of metal from the vault.
  1. FD for:-
  1. One time deposit of Rs 50 lakhs
  1. 5% of margin money: Margin money will be adjusted with final delivery
  1. Proof of Exports (to show the usage of imported gold of the same lot)
  1. GR Form/Export Declaration Form(EDF) for Duty Free Goods
  1. Original Export Promotion (Shipping bill)
  1. Original Customs attested Invoice (Value- addition and wastage % should be mentioned and be within limits allowed by Customs)
  1. AWB
  1. Packing List
  1. Overseas buyer’s confirmation for receipt of Jewellery consignment
  1. Purchase Certificate for export obligation issued duly attested by Customs
  1. BRC (Required to release bond submitted to Customs towards Duty Free Gold)
  1. Document proof of utilization of Imported Gold: – Invoice, AWB, Bill of Entry No. of the import related documents should be shown on Invoice, AWB, GR/EDF of the Export related documents

For Further Facilitation on matters related to Gold Import Registration-

(Please read the disclaimer below):
CP: Mr. Ravi Jha
Mob: +91-9999005379

Email: intelconsul@gmail.com or rsj@sjeximtech.com

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