Govt imposes import curbs on platinum alloy with less than 99% purity

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Govt imposes import curbs on platinum alloy with less than 99% purity - Business Standard

Quick Summary:

The government on Wednesday imposed import curbs on platinum alloy with less than 99 per cent purity to curb illicit imports of this precious metal blended with significant amounts of gold.

"Import policy of platinum...is revised from free to restricted except for platinum alloy of 99 per cent or more purity by weight of platinum," the DGFT said in a notification.

The decision follows cases where this alloy blended with significant amounts of gold was imported to exploit the tariff differential between gold and platinum.