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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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