Import Policy Condition for Gold

20 Dec, 2019

Notification No. 36/2015-2020   Dated. 18th  December, 2019

Issued by. DGFT

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 — l (Import Policy).

 

Exim Code

Item Description

Present Policy

Revised Policy

Existing Policy Condition

Revised Policy Condition

71061000

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 RBI 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 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 RBI Regulations

Import is allowed only through nominated agencies as notified by RBI (in case of banks) and DGFT (for other agencies

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 amended from “free to restricted” (subject to RBI Regulations).

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

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