Amendment in import policy conditions of gold under Chapter 71 of Schedule – I (Import Policy) of ITC (HS), 2017.

To be published in the Gazette of India Extraordinary Part-II, Section-3, Sub-Section (it)

Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade

Notification No. 49/2015-2020 New Delhi, Dated: 5" January, 2022

Subject: Amendment in import policy conditions of gold under Chapter 71 of Schedule — I (Import Policy) of ITC (HS), 2017

|S.O. (E): In exercise ofpowers conferred by Section 3 read with Section 5 ofFT(D&R) Act,|S.O. (E): In exercise ofpowers conferred by Section 3 read with Section 5 ofFT(D&R) Act,|S.O. (E): In exercise ofpowers conferred by Section 3 read with Section 5 ofFT(D&R) Act,|S.O. (E): In exercise ofpowers conferred by Section 3 read with Section 5 ofFT(D&R) Act,|S.O. (E): In exercise ofpowers conferred by Section 3 read with Section 5 ofFT(D&R) Act,|1992, read|
|---|---|---|---|---|---|
|with paragraph 1.02 and 2.01 ofthe Foreign Trade Policy, 2015-2020, as amended from time totime, the<br>CentralGovernmentherebyamendstheimportpolicy conditions forgold inanyform, otherthanmonetary<br>gold and silver inany form underChapter 71 ofITC (HS), 2017, Schedule—I (Import Policy) as under:||||||
|ITC(HS)<br>Code|Item<br>Description|:<br>Policy|ExistingPolicy<br>Condition|F<br>:<br>ee<br>RevisedPolicyCondition||
||||Import<br>is<br>allowed<br>only|||
||||through<br>nominated|||
|71061000|Powder|Restricted]|agencies as notified by<br> RBI (incaseofbanks) and|Nochange inexisting <br>Condition|Policy|
||||DGFT<br>(for<br>other|||
||||agencies).|||
|Te?<br>Le|Unwrought:<br>Grains||Import<br>is allowed only<br>through<br>nominated<br>agencies as notifiedbyRBI|||
|||(in case of banks) and<br>.<br>RestrictedDGFT (forotheragencies).||No<br>ch<br>in<br>existing<br>ochange inexisting<br>Condition|Poli<br>Policy|
|seas|Unwrought:<br>Others||Silverdore canbe imported<br>by<br>refineries<br>against<br>a|||
||||license with AU condition.|||
||||Import<br>is<br>allowed<br>only|||
|71069210]|Sheets,<br>plates,<br> strips, tubes and|Restricted| <br>PS;<br>reall<br>Pip||through<br>nominated<br>:<br>‘<br> 28°MC!es<br>a8<br>notified by<br>RBI(incaseofbanks)and<br>DGFT(forotheragencies).|ae<br>Nochange inexistingPolicy<br>iti<br>Condition|.<br>Policy|
||||Import<br>is<br>allowed<br>only|||
|71069290|Other|Restricted||through<br>nominated<br>agencies as notified by<br> RETGncase ofbanks)and|.<br>or<br>Nochange inexistingPolicy<br>Condition|.<br>Policy|
||||DGFT(for otheragencies).|||
||||Import<br>is<br>allowed<br>only|||
|71081100|Powder|Restricted|through<br>nominated<br>agencies as notified by<br> RBI (incaseofbanks)and|.<br>ae<br>NochangeinexistingPolicy<br>Condition|:<br>Policy|
||||DGFT<br>(for<br>other|||
||||agencies).|||

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----- Start of picture text -----<br> Import is allowed only Import is allowed only through<br>through nominated {nominated agencies as notified by RBI<br>agencies as notified by |(in case of banks), DGFT (for other<br>RBI (in case of banks) and Jagencies) and IFSCA(for qualified<br>Other DGFT (for other [jewellers through India International<br>71081200] unwrought Restricted) agencies)“© r Bullion Exchange)&<br>poe Gold dore can be imported [Gold Dore can be imported by<br>by refineries against a |fefineries against an import license<br>license with AU {with AU condition.<br>condition,<br>Import is allowed only<br>through nominated<br>71081300| Other semi- agencies as notified by No change in existing Policy<br>manufactured |Restricted] RBI (in case of banks) and Condition<br>forms DGFT (for other<br>agencies).<br>Import is allowed only |Import is allowed only through<br>through nominated nominated agencies as notified by RBI<br>71189000 agencies as notified by (in case of banks), DGFT (for other|<br>Other Restricted] RBI (in case of banks) and Jagencies) and IFSCA(for qualified<br>DGFT (for other jewellers through India International<br>agencies). Bullion Exchange).<br>----- End of picture text -----<br>

2. Import of gold/silver under Advance Authorisation and supply of gold/silver directly by foreign buyers to exporters under para 4.45 of FTP against export orders would continue to be governed by the relevant FTP provisions.

3. The expression “Gold in any form” includes gold in any form above 22 carats under Chapter-71 of ITC (HS), 2017, Schedule-I (Import Policy).

Effect of the Notification: In addition to nominated agencies as notified by RBI (in case of banks) and nominated agencies notified by DGFT, qualified jewellers as notified by International Financial ServicesCentres Authority (IFSCA) will be permitted to import gold under specific ITC(HS) Codes through India International Bullion Exchange IFSC Ltd. (IIBX). However, Import of gold/silver under Advance Authorisation and supply of gold/silver directly by foreign buyers to exporters under para 4.45 of FTP against export orders would continue to be governed by the relevant FTP provisions.

This issues with the approval of Minister of Commerce & Industry.

(Amit Yadav) 2b Director General of Foreign Trade& Ex- officio Addl. Secretary to the Government of India

(F.No.01/89/180/36/AM-11/PC-2(A)/ E-1678)