The India International Bullion Exchange IFSC Ltd (IIBX) on August 07, 2024, issued a circular regarding processing fees and annual fees for Non QJ TRQ holders importing Gold through the QJs of IIBX.
The following has been stated: -
•Non-Qualified Jewellers holding Tariff Rate Quota (TRQ) under the India-UAE CEPA, intending to import Gold through the Qualified Jewellers (QJ) of IIBX from the Exchange platform are required to follow the “Process for Non-QJ TRQ holders to import Gold through QJs of IIBX” given under Part II of Exchange Circular no. 20230907-1 dated September 07, 2023, regarding “Procedure for TRQ holders under the India-UAE CEPA to import Gold from IIBX”.
•Qualified Jewellers who intend to import Gold through IIBX on behalf of the Non-QJ TRQ holders must pay one-time processing fees of USD 500 and Annual fees of USD 1000 for each Non-QJ TRQ holder. The Annual fees shall be charged on a full financial year basis every year.
The detailed circular is given in the document below.
[Circular No. 20240807-2]
