Mumbai Custom Zone III issued a press release about the seizures in last four days. The seized items include gold dust, jewellery, bars, expensive mobile phones, foreign currencies, laptops and cosmetics.
The state-wise list of newly added 55 districts under the mandatory hallmarking is available on the website of the Bureau of Indian Standards (BIS) under the hallmarking section.
Rs 2,000 note ban: PNG Jewellers Chairman and Managing Director Saurabh Gadgil said, "The practice of taking Rs 2,000 notes in lieu of gold at a premium rate is something that may exist only in the unorganised sector. The organised jewellery players stay miles away from such things."
In addition to agencies nominated by the RBI and by DGFT, Qualified Jewellers as approved by International Financial Services Centers Authority were permitted to import gold in January.
Within the jewellery retail industry, revenues of organised retailers are likely to grow at a higher pace of 14 per cent, backed by their aggressive store expansion plans and a gradual shift from the unorganised segment towards the organised one, Icra Ratings said in a report.
"Demand for gold in India for Q2 2021 was at 76.1 tonne, increase by 19.2 per cent as compared to overall Q2 demand for 2020 (63.8 tonne)," it said.
The Karnataka bench of the AAR observed that GST is payable only on the margin between the sale price and the purchase price
The Centre on Monday further extended the deadline for mandatory hallmarking of gold jewellery and artefacts by a fortnight till June 15 in view of the COVID-19 pandemic.
The Centre, in November 2019, had announced that hallmarking of gold jewellery and artefacts would be made mandatory across the country from January 15, 2021. The government had given jewellers more than a year to shift to hallmarking and register themselves with the Bureau of Indian Standards (BIS).
According to sources, one of the recommendations requires the DPMS sector to fulfil obligations of Customer Due Diligence (CDD) when they conduct cash transactions above a certain limit (USD/EUR 15,000). India is a member of FATF since 2010.
The government on Monday extended the deadline for mandatory hallmarking of gold jewellery and artefacts till June 1, 2021. The decision has been taken in view of the COVID-19 pandemic.
Around 37 per cent of Indian women have never bought gold jewellery but are interested in doing so in the future, a report said. The report, by the World Gold Council (WGC), added that most of these potential buyers are from the rural areas.
Having gold at home? Do you know how much you can keep without fearing Income Tax department? CBDT has clarified the prescribed quantity of gold considered allowable.
Buying gold or gold jewellery in India will soon become much safe than before as the government of India has taken a major step on its purity. The Centre has made Hallmarking for gold jewellery and artefacts mandatory across the nation from January 15, 2020. At present, hallmarking of gold is optional and can be voluntarily opted for by jewellers.
Hallmarking for gold jewellery and artifacts would be mandatory from January 15, 2021, the government said in an announcement on Friday. Union Consumer Affairs Minister Ram Vilas Paswan said the decision was taken to ensure quality.
Gold being a soft metal, contact or abrasion between different jewellery pieces may damage them. Wrap each piece separately to avoid such a problem, say experts.
Posing as CBI officials, four unidentified persons looted 45 kg gold from Muthoot Finance in Hyderabad on Wednesday, the city police said.
New Delhi: Rising for the third straight day, gold regained the Rs 27,000-mark by gaining Rs 200 at the bullion market today in line with a firm global trend amid pick up in wedding season
New Delhi: Brides and bridegrooms are now drifting away from conventional wedding ensembles and choosing to experiment more with colours, silhouettes and designs, say stylists.The annual four-day wedding show 'The Treasury of Trousseau' beginning today
Hyderabad: Gold jewellery worth Rs. 15 lakh was stolen from the residence of Telugu filmmaker Puri Jagannath while he was away shooting, police said Saturday.According to the police, Jagannath's daughter took out the jewellery to
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