[vc_row][vc_column][vc_column_text]
In a major move to facilitate ease of doing business, the Central Board of Excise & Customs (CBEC) has removed the need for a special warehouse with double locking for nominated agencies importing gold for export purposes. This means RBI-authorised banks, agencies like MMTC, STC, etc, can import the quantity required by the exporters and not be bound by warehousing restrictions. For instance, if an agency has a warehousing restriction of 100 kilos and exporters need 500 kilos the nominated agency has to import 100 kilos five times as at any given time it cannot store more than 100 kilos.
[/vc_column_text][/vc_column][/vc_row]
