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

 

 

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

71061000

Powder

Free

Restricted

Subject      tc

Import is allowed only through

 

 

 

 

RBI

nominated              agencies                         as

 

 

 

 

Regulations

notified by RBI (in case of

 

 

 

 

 

banks) and DGFT (for other

 

 

 

 

 

aecies).

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 ano 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    tc

RBI

Import is allowed only through

nominated           agencies                    as

 

 

 

 

Regulations

notified by RBI (in case of banks) and DGFT (for other

 

 

 

 

 

agencies).

71081100

Powder

Free

Restricted

Subject     tc

RBI

Import is allowed only through

nominated           agencies                    as

 

 

 

 

Regulations

notified by RBI (in case of banks) and DGFT (for other

 

 

 

 

 

agencies).

 

                               


 

 

 

 

 

 

71081200

Other unwrought forms

Free

Restricted

Subject     to

RBI

Regulations However, mport

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 dore 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

Import is allowed only through

 

 

 

 

RBI

nominated                agencies                         as

 

 

 

 

Regulations

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 pro\Visions.

 

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.

                                                                                                                                                                                                                                      

 

 

(Amit YadaV) 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)/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.