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Date: 18-12-2019
Notification No: Notification No. 36/2015-2020
Issuing Authority: DGFT  
Type: Notification
File No: (F.No.01/89/180/36/AM-11/PC-2(A)Nol.IV/e-1717
Subject: Amendment in import policy conditions of gold and silver under Chapter 71 of ITC (HS), 2017, Schedule-I (Import Policy).

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

Notification No. 36/2015-2020

New Delhi, Dated: 18 December, 2019

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


Exim Code Item
Description
Present
Policy
Revised
Policy
Existing
Policy
Condition
Revised Policy
Condition
71061400 Powder Free Restricted Subject to
 RBI Regulations
Import is allowed only
 through nominated
 agencies as notified by
 RBI (in case of banks) and
 DGFT (for other
 agencies).
71069100 Unwrought Free Restricted Subject to
 RBI Regulations
Import is allowed only
 through nominated
 agencies as notified by
 RBI (in case of banks) and
 DGFT (for other
 agencies).
Silver dore can be
 imported by refineries
 against a licence with AU
 condition
71069210 Sheets,
plates,
 strips,
tubes and
pipes
Free Restricted Subject to
 RBI Regulations
Import is allowed only
 through nominated
 agencies as notified by
 RBI (in case of banks) and
 DGFT (for other agencies).
71069290 Other  Free Restricted Subject to
RBI Regulations
Import is allowed only
 through nominated
 agencies as notified by
RBI (in case of banks) and
DGFT (for other agencies).
71081100 Powder  Free Restricted Subject to
 RBI Regulations
Import is allowed only
 through nominated
 agencies as notified by
 RBI (in case of banks) and
 DGFT (for other agencies).
71081200 Other unwrought forms Free Restricted Subject to
 Regulations.
 However,
 import
 policy of
 Gold Dore is
“Restricted”.
Import is allowed only
 through nominated
 agencies as notified by
 RBI (in case of banks) and
 DGFT (for other
agencies).
Gold dare can be
 imported by refineries
 against a licence with AU
 condition
71081300 Other semi-manufactured forms Free Restricted Subject to
RBI Regulations
Import is allowed only
 through nominated
 agencies as notified by
 RBI (in case of banks) and
 DGFT (for other
 agencies).
71189000 Other Free Restricted Subject to
RBI Regulations
Import is allowed only
through nominated
agencies as notified by
RBI (in case of banks) and
DGFT (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.

(F.No.01/89/180/36/AM-11/PC-2(A)Nol.IV/e-1717)

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

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.

       

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