NEW DELHI: The government has withdrawn incentives being given to exporters of gold medallions and coins for import of raw material, according to a notice by the commerce ministry.
"Advance Authorisation shall not be issued where items of export are gold medallions and coins or any jewellery/articles manufactured by a fully mechanised process," the Directorate General of Foreign Trade (DGFT) said in a notice.
An Advance Authorisation is issued to allow duty-free import of inputs, which are physically incorporated in export products. DGFT is under the commerce ministry.