"Already 12 tonnes have been landed from South Korea since the implementation of GST . However, this was scrapped along with other local taxes when a Goods and Services Tax (GST) was introduced from July 1. "Those who are importing from South Korea are reaping windfall gains," said Rajesh Khosla, managing director of MMTC-PAMP India, the country's biggest refinery. "They are saving the 10 per cent import duty. "Very soon this issue will be resolved by putting on a countervailing duty," he said.In the first seven months of the 2017, gold imports more than doubled from a year ago to 550 tonnes, according to provisional data from consultancy GFMS.

Source: Times of India August 14, 2017 08:50 UTC