DGFT Notification announcing amendment in import policy conditions of gold and silver under Chapter 71 of ITC (HS) 2017.

—_—

To be published in the Gazette of India Extraordinary Part-!l, Section-3, Sub-Section (Il)

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

Notification No..4 6 /2015-2020 New Delhi, Dated: 1g December, 2019

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

S.O. (E): In exercise of powers conferred by Section 3 of FT (D&R) Act, 1992, read with paragraph 1.02 and 2.01 of the Foreign Trade Policy, 2015-2020, as amended from time to time, the Central Government hereby amends the import policy with conditions of gold in any form, other than monetary gold and silver in any form under Chapter 71 of ITC (HS), 2017, Schedule — | (Import Policy).

|Exim Code|Item|Present|[Revised|[Existing||Revised Policy Condition|Revised Policy Condition|
|---|---|---|---|---|---|---|---|
||Description||Policy|Policy|Policy||||
|||||Condition||||
|71061000||Powder|Free|Restricted|Subject||to}|Import is allowed only through||
|||||RBI||nominated|agencies<br>as|
|||||Regulations|||notified<br>by|RBI<br>(in case<br>of|
|||||||banks) and|DGFT<br>(for other|
|||||||agencies).||
|1069100||Unwrought|/|Free|Restricted|Subject||to]|Import is allowed only through||
|||||RBI||nominated|agencies<br>as|
|||||Regulations|||notified<br>by|RBI<br>(in case<br>of|
|||||||banks) and|DGFT<br>(for other|
|||||||agencies).||
|||||||Silver dore|can be imported|
|||||||by refineries|against a licence|
|||||||with AU condition||
|1069210||Sheets,|Free|Restricted|Subject||to}|Import is allowed only through||
||plates, strips,<br>ubes<br>and|||RBI<br>Regulations|||nominated<br> notified by|agencies<br>as<br> RBI<br>(in case<br>of|
||pipes|||||banks) and|DGFT<br>(for other|
|||||||agencies).||
|1069290|{Other|Free|Restricted|Subject||to}|Import is allowed only through||
|||||RBI<br>Regulations|||nominated<br> notified<br>by|agencies<br>as<br> RBI<br>(in case<br>of|
|||||||banks) and|DGFT<br>(for other|
|||||||agencies).||
|71081100||Powder|Free|Restricted|Subject — to} <br>RBI<br>Regulations ||||Import is allowed only through<br>nominated<br>agencies<br>as<br> notified<br>by RBI<br>(in case<br>of||
|||||||banks) and|DGFT<br>(for other|
|||||||agencies).||

|1081200||Other|Free|Restricted/Subject|to}|Import is allowed only through|
|---|---|---|---|---|---|
||unwrought||RBI||nominated<br>agencies<br>as|
||orms||Regulations.|||notified<br>by RBI<br>(in<br>case<br>of|
||||However,||banks) and DGFT (for other|
||||import||agencies).|
||||policy|of||
||||Gold Dore|is}|Gold dore can be imported by|
||||‘Restricted”.|||refineries<br>against<br>a<br>licence|
||||||with AU condition|
|1081300||Other|semi-Free|Restricted|Subject|to}|Import is allowed only through|
||manufactured<br>orms||RBI<br>Regulations|||nominated<br>agencies<br>as<br> notified by RBI<br>(in case<br>of|
||||||banks) and DGFT<br>(for other|
||||||agencies).|
|1189000|{Other|Free|Restricted|Subject|to}|Import is allowed only through|
||||RBI<br>Regulations|||nominated<br>agencies<br>as<br> notified by RBI<br>(in case<br>of|
||||||banks) and DGFT<br>(for other|
||||||agencies).|

2. Import of gold under Advance Authorisation and supply of gold directly by foreign buyers to exporters under para 4.45 of FTP against export orders are exempted from the amended provisions.

Effect of the Notification: Import policy of gold in any form, other than monetary gold and silver in any form, is amended from 'Free' to ‘Restricted’; import is allowed only through nominated agencies as notified by RBI (in case of banks) and DGFT (for other agencies). However, Import under Advance Authorisation and supply of gold directly by the foreign buyers to exporters under para 4.45 of FTP against export orders are exempted.

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

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

(F.No.01/89/180/36/AM-1 1/PC-2(A)/Vol.IV/e-1717)

Note: The principal notification No. 36/2015-2020, dated the 17th January, 2017 was published in the Gazette of India, Extraordinary vide number S.O. 172 (E), dated the 17th January, 2017.