Importing gold dore bars (unrefined/semi-processed gold, typically 50-90% purity) into India is a restricted activity regulated by the DGFT, RBI, and Customs. It is primarily allowed for licensed refineries under an Actual User (AU) condition.

Key Regulations (as of 2026)

• ITC (HS) Code: Primarily 71081200 (Other unwrought gold, including dore bars).
• Import Policy: Restricted. Gold dore can only be imported by refineries against a specific import license issued by DGFT with Actual User (AU) condition.
• Eligibility: Only BIS-approved refineries (with prior NABL accreditation for first-time applicants) qualify. Nominated agencies or others generally cannot import dore for general trade.

Step-by-Step Import Procedure

1. Obtain Necessary Registrations & Approvals:
   • Valid IEC (Import Export Code) from DGFT.
   • GST Registration.
   • BIS License for the refinery (mandatory).
   • NABL Accreditation (for testing/calibration, required before BIS for new refiners).
   • Other: MSME certificate (if applicable), PAN/Aadhaar of authorized person, company documents (MoA/AoA or Partnership Deed).
2. Apply for DGFT Import License:
   • Submit application to DGFT for import authorization of the restricted item (gold dore).
   • License is quantity-specific, with AU condition (gold must be used only by the licensee for refining).
   • Processing time: Typically 3-5 working days (or longer depending on scrutiny).
3. Arrange Sourcing & Shipping:
   • Source from reputable international suppliers (often LBMA-accredited).
   • Comply with any trade agreements (e.g., India-UAE CEPA TRQ where applicable, routed via IIBX/SEZ vaults).
   • Prepare documents: Commercial invoice, packing list, bill of lading/airway bill, certificate of origin/analysis (purity), insurance.
4. Customs Clearance:
   • Route through customs-bonded warehouses.
   • File Bill of Entry via ICEGATE.
   • Pay applicable duties (see below).
   • Customs verifies quantity, purity, and license compliance.
5. Post-Import Compliance:
   • Refine the dore into standard gold bars.
   • Submit utilization reports (dore imported, refined gold produced, supplied to exporters, proof of exports) to jurisdictional Central Excise/Customs officer.
   • Maintain records for audits. Quantity limits may apply based on export performance in subsequent consignments (e.g., not exceeding 5x exported gold content in some older guidelines).

Duties & Taxes (Current as of 2026)

• Customs Duty on Gold Dore: Around 5.35% (slightly lower than finished gold bars at 6% — typically 5% BCD + 1% AIDC, with possible adjustments).
• IGST: 3% on (assessable value + customs duty). Input Tax Credit available for registered businesses.
• Total effective tax burden is lower than on refined gold bars. Tariff value is notified periodically by CBIC based on international prices.

Note: Duties were reduced significantly in 2024 (from 15%) and remained stable in subsequent budgets to curb smuggling.

Important Conditions & Restrictions

• Gold dore imports are for refining only — no diversion to domestic sale without proper duty payment.
• At least 20% of some gold imports (historical guideline) may need to support exports.
• SEZ/EOU units can procure refined gold from licensed refiners for export purposes only.
• Non-compliance can lead to license cancellation, penalties, or confiscation.

Recommendations: Consult a licensed Customs House Agent (CHA), DGFT consultant, or professional firm for the latest notifications, as policies can change (e.g., DGFT Notification No. 08/2025-26 updated HS codes and conditions). Always check the official DGFT website or ICEGATE for current tariff values and procedures. For business setup, ensure your refinery meets BIS/NABL standards first.

RBI-nominated banks (authorized under the Foreign Trade Policy) can import gold dore bars as part of their overall gold import permissions, since policies often cover gold “in any form/purity including dore.” However, primary responsibility for dore imports lies with BIS-approved refineries under a specific DGFT import license with Actual User (AU) conditions.

Key Points on Banks Importing Gold Dore

• Nominated Banks’ Role: RBI-authorized banks (e.g., SBI, HDFC, ICICI, Axis, etc. — around 15-17 banks as of 2026) are nominated agencies for importing precious metals, including gold dore. They handle a significant portion of India’s gold imports and can bring in dore as part of their consignments.
• 20% Export Obligation: Nominated banks/agencies must make at least 20% of every lot of gold (including dore) available exclusively for exports.
• Practical Reality: Banks more commonly import refined gold bars. Dore imports are less frequent for them because dore requires refining infrastructure. Refineries typically import dore directly under their own DGFT licenses. Some older guidelines encouraged banks to help import more dore to support the industry.

Comparison: Banks vs. Refineries for Dore Imports

Recommendations

• If you are a refinery — Apply directly for a DGFT license (preferred and more straightforward for dore).
• If you want to use a bank — Approach an RBI-nominated bank (e.g., SBI, HDFC) for import on your behalf or as a nominated agency route. They can facilitate but may charge fees and impose conditions.
• Always route through customs-bonded warehouses and comply with purity, quantity, and documentation rules.

Policies can change, so verify the latest DGFT notification (e.g., Appendix 4B) and consult a Customs House Agent (CHA) or DGFT consultant. For the most current list of authorized banks, check the DGFT website.