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Classification rules allow platinum alloys with up to 98% gold to be labeled as platinum alloy.
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However, only gold entering through a bill of entry filed at Customs is considered an import.
Movements within the country, such as for use in SEZs, EOUs, or Gift City, or subsequent domestic sales, don’t qualify as imports and should not be included in import data.
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India should not offer any tariff cuts on precious metals under FTAs.Disclaimer: Views expressed are personal and do not reflect the official position or policy ofFinancialExpress.com.
Reproducing this content without permission is prohibited.Micromax and Phison have formed a joint venture, MiPhi, to produce storage chips in India.
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