Chirayu Software Solutions

  Major Changes in Gold & Silver Import Rules via IIBX – What Jewellers Need to Know in 2026 The International Financial Services Centres Authority (IFSCA) has released an updated consolidated circular on 15 June 2026 , introducing significant changes to the import of gold and silver through the India International Bullion Exchange (IIBX). These changes aim to make bullion imports more accessible, transparent, and efficient for jewellers, exporters, and bullion traders across India. This move is expected to have a major impact on the bullion ecosystem, especially for SEZ units, exporters, and qualified jewellers. What is IIBX? India International Bullion Exchange (IIBX) is India’s dedicated bullion exchange located in GIFT City, Gujarat. It allows eligible participants to directly import gold and silver in a regulated and transparent environment. The platform was introduced to reduce dependency on traditional import channels and improve pricing efficiency. Key Changes in the La...

  India Revises Gold & Silver Import Tariff Values from 16 June 2026 – What It Means for Bullion Traders The Government of India has issued Notification No. 55/2026-Customs (N.T.) on 15 June 2026 , revising the tariff values for several imported commodities including gold, silver, palm oil, soybean oil, brass scrap, and areca nuts. This notification, released by the Central Board of Indirect Taxes and Customs (CBIC) under the Ministry of Finance, will come into effect from 16 June 2026 . For bullion traders, Jewellers, and investors, the biggest focus remains on the updated tariff values of gold and silver, as these directly influence import duties and market pricing. What Are Tariff Values? Tariff value is the government-declared value on which customs duty is calculated for imported goods. It may differ from actual market prices and is used to maintain uniformity in taxation. For bullion imports, tariff values play a crucial role because customs duty is applied based on thi...

 A Comprehensive Guide to Setting Up a Unit in GIFT IFSC Establishing a business presence in the Gujarat International Finance Tec-City (GIFT) International Financial Services Centre (IFSC) is a strategic move for entities looking to operate in a global financial hub. The process involves a structured sequence of regulatory and administrative steps. This guide outlines the indicative process based on current regulatory requirements. Phase 1: Preparation and Incorporation The initial phase focuses on securing your physical footprint and legal status. Note that steps 1a and 1b can be executed simultaneously. Identify Office Space: Coordinate with a co-developer to identify suitable office space and execute a Letter of Intent (LOI). Name Reservation: Reserve your company name with the Ministry of Corporate Affairs (MCA). Note: A branch or LLP is not required to incorporate a new company with the MCA. Provisional Allotment: Obtain the Provisional Letter of Allotment (PLOA) and a No...

  India Tightens Silver Import Regulations: DGFT Introduces Mandatory Import Authorisation for Specific Silver Categories The Government of India has introduced a significant amendment to the import policy governing silver and silver-related products. Through Notification No. 19/2026-27 dated June 2, 2026, issued by the Directorate General of Foreign Trade (DGFT), the government has revised the import conditions for specific silver products covered under Chapter 71 of ITC (HS) 2022. The move aims to strengthen regulatory oversight, improve transparency in bullion imports, and ensure tighter monitoring of precious metal inflows into the country. What Has Changed? Prior to this amendment, imports of certain silver products were permitted through nominated agencies notified by the Reserve Bank of India (RBI), DGFT, and qualified jewellers authorized by the International Financial Services Centres Authority (IFSCA) for transactions through the India International Bullion Exchange (IIBX...

 Silver 100 on MCX: A Complete Guide to India's Smallest Silver Futures Contract MCX Introduces Silver 100 – Making Silver Trading More Accessible Than Ever The Multi Commodity Exchange (MCX) has introduced Silver 100 , a new silver futures contract with a lot size of just 100 grams . This development is a significant step toward making silver trading more accessible to retail traders and small investors who previously found larger silver contracts expensive and capital-intensive. With lower margin requirements and smaller exposure, Silver 100 offers an opportunity for beginners to participate in the silver futures market without committing large amounts of capital. What is Silver 100? Silver 100 is a silver futures contract traded on MCX with a lot size of 100 grams , making it the smallest silver futures contract currently available in the Indian commodities market. The contract is designed for: Retail traders Small investors Beginners in commodity trading Investo...

 The precious metals sector in India has witnessed another important regulatory development with the Multi Commodity Exchange (MCX) announcing revisions to its Good Delivery (GD) norms for BIS-standard Gold and Silver. The circular aims to strengthen quality standards while creating a pathway for domestic silver refiners to participate more actively in the MCX delivery ecosystem. Introduction India is one of the world's largest consumers of precious metals, and exchanges like MCX play a critical role in ensuring transparent trading, standardized delivery practices, and quality assurance. To further support domestic refining capabilities and align with the broader vision of self-reliance in precious metals, MCX has updated its Good Delivery standards. The revised framework particularly focuses on facilitating participation by Indian silver refiners while maintaining strict quality and compliance benchmarks. Understanding MCX Good Delivery Norms Good Delivery standards define th...