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The Gold (Control) Act, 1968 is a repealed Act of the Parliament of India which was enacted to control sale and holding of gold in personal possession. High demand for gold in India with negligible indigenous production results in gold imports, leading to drastic devaluation of the Indian rupee and depletion of foreign exchange reserves to alarming levels.
ABC News will air one hour of prime-time coverage from 10-11 p.m. ET on Monday and Tuesday, and two hours on Wednesday and Thursday, from 9-11 p.m. ET. ABC News Live, the network's streaming news ...
MSNBC will air special coverage from 8 p.m. to midnight each night and will also livestream all four days of the convention on its YouTube channel, the New York Times reports. See Wednesday schedule
India raised the import duties on gold and other precious metals on Friday in a surprise move that industry officials say could dampen retail demand and boost smuggling in the world's second ...
Gold smuggling was rampant in India until liberalisation, which repealed The Gold (Control) Act, 1968 that prohibited the import of gold except for jewellery. [4] In the 2011–12 period India's current account deficit burgeoned to 4.2% of its GDP. [5] This was due to high prices of oil and gold, which the country imports in huge volumes. [6]
In China, the purchase of gold products is subject to value added tax (VAT). Investment gold, which meets the criteria for investment purposes such as gold bars and coins, is exempt from tax under the Interim Regulations on Value-Added Tax. Other gold products such as jewelry and industrial applications are subject to a tax rate of 13%.
ABC News will air one hour of prime-time coverage from 10-11 p.m. ET on Monday and Tuesday, and two hours on Wednesday and Thursday, from 9-11 p.m. ET. ABC News Live, the network's streaming news ...
MMTC is one of the two highest foreign exchange earner for India (after petroleum refining companies). [2] It is the largest international trading company of India and the first public sector enterprise to be accorded the status of Five Star Export Houses by Government of India for long standing contribution to exports