Home India Ministry of Commerce and Industry Amendment in import policy and policy condition of Gold Cove...
Date: 12-Jul-2023 Category: Extra Ordinary State: Union Government Country: India

Amendment in import policy and policy condition of Gold Covered under HS code 71131911, 71131919 and 71141910 of Chapter 71 of Schedule I (Import Policy) of ITC (HS) 2022

Issued by Ministry of Commerce and Industry · Directorate General of Foreign Trade

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Executive Summary & Key Takeaways

What it means

  • The gazette notification amends the import policy for specific ITC (HS) codes related to gold under Chapter 71 of Schedule-I (Import Policy) of ITC (HS), 2022.
  • The import policy for HS codes 71131911, 71131919, and 71141910 has been changed from 'Free' to 'Restricted' with immediate effect.
  • Imports under HS code 71131911 are permitted freely without any import license under a valid India-UAE CEPA TRQ (Tariff Rate Quota).

Key Changes

  • ITC (HS) code 71131911 (Of gold: Unstudded) - Import policy changed from 'Free' to 'Restricted'. However, import under a valid INDIA-UAE CEPA TRQ shall be permitted freely without any import license.
  • ITC (HS) code 71131919 (Of gold: Other) - Import policy changed from 'Free' to 'Restricted'.
  • ITC (HS) code 71141910 (Articles of gold) - Import policy changed from 'Free' to 'Restricted'.

Impact Analysis

Stakeholders Affected

  • Directorate General of Foreign Trade (DGFT): Responsible for implementing and monitoring the revised import policy.

Suggested Action Items

  • Review existing contracts and supply chain arrangements to account for the revised import policy.

Key Entities Referenced

Foreign Trade (Development & Regulation) Act, 1992: The Act provides the legal framework for the Central Government to regulate foreign trade. Foreign Trade Policy 2023: The prevailing policy that guides import and export regulations and is amended from time to time. ITC (HS) 2022: Indian Trade Classification (Harmonized System) which is a classification system used for coding goods for import and export. India-UAE CEPA TRQ: India-United Arab Emirates Comprehensive Economic Partnership Agreement Tariff Rate Quota which allows specified quantities of goods to be imported at a preferential tariff rate or nil rate. Directorate General of Foreign Trade (DGFT): The government agency responsible for implementing foreign trade policy. Ministry of Commerce and Industry: The ministry responsible for formulating and implementing policies related to foreign trade and commerce.
Official Source Record View Original Source →
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-12072023-247245 xxxGIDHxxx CG-DL-E-12072023-247245 xxxGIDExxx असाधारण EXTRAORDINARY भाग II—खण् ड 3—उप-खण्ड (ii) PART II—Section 3—Sub-section (ii) प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 2982] नई दिल्ली, बुधवार, िुलाई 12, 2023/आषाढ़ 21, 1945 No. 2982] NEW DELHI, WEDNESDAY, JULY 12, 2023/ASHADHA 21, 1945 अजधसचू ना नई दिल्ली, 12 िुलाई, 2023 I का.आ. 3111(अ).—le;≤ ij ;Fkk la”kksf/kr fons”k O;kikj uhfr] 2023 ds iSjk 1-02 vkSj 2-01 ds lkFk ifBr fon”s k O;kikj ¼fodkl ,oa fofu;eu½ vf/kfu;e 1992 dh /kkjk 3 vkSj /kkjk 5 }kjk iznÙk “kfDr;ks a dk iz;ksx djrs gq, dsUnz ljdkj vkbZVhlh ¼,p,l½] 2022] vuqlwph&I ¼vk;kr uhfr½ ds v/;k; 71 ds rgr fof”k’V vkbZVhlh ¼,p,l½ dksMks a dh vk;kr uhfr es a rRdky izHkko ls fuEukuqlkj la”kks/ku djrh gS% 71131911 --- lksus ds %---- vtfM+r eqDr izfrcaf/kr rFkkfi] oS/k Hkkjr&la;qDr vjc vehjkr lhbZih, - VhvkjD;w ds rgr vk;kr fdlh Hkh vk;kr ykblals ds 4502 GI/2023 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] fcuk eqDr :i ls vuqer gksxkA 71131919 --- lksus ds %---- vU; eqDr - izfrcaf/kr - 71141910 --- lksus dh oLrq,a eqDr - izfrcaf/kr - 2- vkbZVhlh ¼,p,l½ dksM 71131911] 71131919 vkSj 71141910 dh vk;kr uhfr dks rRdky izHkko ls ÞeqDrß ls la”kksf/kr djds Þizfrcaf/krß fd;k x;k gSA rFkkfi] ,p,l dksM 71131911 ds rgr vk;kr oS/k Hkkjr&la;qDr vjc vehjkr lhbZih, VhvkjD;w ds rgr fdlh Hkh vk;kr ykblsal ds fcuk eqDr :i ls vuqer gksxkA bls okf.kT; ,oa m|ksx ea=h ds vuqeksnu ls tkjh fd;k tkrk gSA [Qk- la- 01@89@180@36@,,e&11@ihlh&2¼d½@ikVZ&VI@bZ&34691] larks"k dqekj lkjaxh] egkfuns'kd fons'k O;kikj vkSj insu vij lfpo MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) (DIRECTORATE GENERAL OF FOREIGN TRADE) NOTIFICATION New Delhi, the 12th July, 2023 No. 19 /2023 Subject: Amendment in import policy and policy condition of Gold Covered under HS code 71131911, 71131919 & 71141910 of Chapter 71 of Schedule –I (Import Policy) of ITC (HS) 2022. S.O. 3111.—In exercise of powers conferred by Section 3 and Section 5 of Foreign Trade (Development &Regulation) Act, 1992, read with paragraph 1.02 and 2.01 of the Foreign Trade Policy 2023, as amended from time to time, the Central Government hereby amends the import policy and policy condition of specific ITC (HS) Codes under Chapter 71 of Schedule -I (Import Policy) - ITC (HS), 2022, as under: HS codes Item Existing Existing Revised Revised Policy Condition Description Import Policy Import Policy Condition Policy 71131911 --- Of gold:- Free However, import under a valid Unstudded INDIA-UAE CEPA TRQ shall be - Restricted permitted freely without any import license. 71131919 --- Of gold Free - - Restricted :----Other 71141910 --- Articles Free - - Restricted of gold 2. Effect of the notification: The Import Policy of ITC (HS) code 71131911, 71131919 and 71141910 has been amended from “Free” to “Restricted” with immediate effect. However, import under HS code 71131911 shall be permitted freely without any import license under a valid India-UAE CEPA TRQ. This issues with the approval of Minister of Commerce & Industry. [F. No. 01/89/180/36/AM-11/PC-2[A]/Part-VI/E-34691] SANTOSH KUMAR SARANGI, Director General of Foreign Trade & Ex-officio Addl. Secy. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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