**Executive Summary:**
This notification, issued by the Directorate General of Foreign Trade on December 18, 2019, amends the import policy conditions for gold and silver under Chapter 71 of ITC HS, 2017, Schedule I Import Policy. It restricts the import of gold in any form (excluding monetary gold and silver) and specifies that imports are only allowed through nominated agencies as notified by RBI for banks and DGFT for other agencies. Certain exemptions apply under advance authorization and direct supply to exporters.
**Key Points / Main Content:**
* **Policy Amendment:** The import policy for gold in any form (excluding monetary gold and silver) is amended from "Free" to "Restricted."
* **Import Restrictions:** Import of specified gold items is only permitted through nominated agencies, as notified by the RBI for banks and the DGFT for other agencies.
* **ITC HS Codes Affected:** The notification impacts the import policy conditions for the following ITC HS codes:
* 71061000 (Powder)
* 71069100 (Unwrought)
* 71069210 (Sheets, plates, strips, tubes and pipes)
* 71069290 (Other)
* 71081100 (Powder)
* 71081200 (Other unwrought forms)
* 71081300 (Other semi-manufactured forms)
* 71189000 (Other)
* **Silver Dore Import:** Silver dore can be imported by refineries against a license with AU condition.
* **Gold Dore Import:** Gold dore can be imported by refineries against a license with AU condition.
* **Exemptions:**
* Import of gold under Advance Authorisation.
* Supply of gold directly by foreign buyers to exporters under paragraph 4.45 of the Foreign Trade Policy (FTP) against export orders.
**Impact Analysis:**
**Nominated Agencies (RBI-Notified Banks and DGFT-Notified Agencies):**
* *Impact:* These agencies are the only entities permitted to import gold under the revised policy (excluding monetary gold and silver).
* *Action Required:* Ensure compliance with RBI and DGFT regulations for nominated agencies.
**Gold Importers (Excluding Monetary Gold and Silver):**
* *Impact:* Gold importers are now subject to restricted import conditions. They must operate through nominated agencies unless exemptions apply.
* *Action Required:* Review import procedures to align with the new restrictions and identify nominated agencies for import activities.
**Refineries:**
* *Impact:* Refineries can import Silver Dore and Gold Dore against a license with AU condition.
* *Action Required:* Ensure compliance with licensing for importing Silver Dore and Gold Dore.
**Exporters:**
* *Impact:* Exporters receiving direct gold supply from foreign buyers under paragraph 4.45 of FTP against export orders are exempt from the amended provisions.
* *Action Required:* Maintain documentation to demonstrate eligibility for the exemption.
**Foreign Buyers:**
* *Impact:* Foreign buyers supplying gold directly to exporters under paragraph 4.45 of FTP against export orders are exempt from the amended provisions.
* *Action Required:* No specific action mentioned in the document.
Key Entities Referenced
Foreign Trade Policy, 2015-2020: A policy governing import and export activities, referenced in the context of amendments and exemptions related to gold and silver imports.
FTDR Act, 1992: Foreign Trade (Development and Regulation) Act, 1992. The legal basis for the Central Government's powers to regulate foreign trade.
ITC HS, 2017: Indian Trade Classification (Harmonised System) 2017. Used for classifying goods in import and export.
Reserve Bank of India: The central bank of India, plays a role in regulating gold and silver imports, particularly concerning banks.
Directorate General of Foreign Trade: A government agency responsible for implementing foreign trade policy and regulations.
New Delhi: Capital of India and location where the notification was issued.
Amit Yadav: Director General of Foreign Trade and Ex officio Additional Secretary who signed the notification.
Ministry of Commerce and Industry: The government ministry that oversees trade and industrial policy, with whose approval the notification was issued.
jftLVªh laö Mhö ,yö&33004@99 REGD. NO. D. L.-33004/99
vlk/kj.k
EXTRAORDINARY
Hkkx II—[k.M 3—mi&[k.M (ii)
PART II—Section 3—Sub-section (ii)
izkf/dkj ls izdkf'kr
PUBLISHED BY AUTHORITY
la- 4073] ubZ fnYyh] cq/okj] fnlEcj 18] 2019@ vxzgk;.k 27] 1941
No. 4073] NEW DELHI, WEDNESDAY, DECEMBER 18, 2019/AGRAHAYANA 27, 1941
okf.kT; ,oa m|ksx ea=ky;
¼okf.kT; foHkkx½
¼fons'k O;kikj egkfuns'kky;½
vf/klwpuk
ubZ fnYyh] 18 fnlEcj] 2019
la[;k 36@2015&2020
fo"k;% vkbZVhlh ¼,p,l½] 2017] vuqlwph&I ¼vk;kr uhfr½ ds v/;k;&71 ds rgr lksuk vkSj pkanh dh vk;kr
uhfr ’krksZa esa la’kks/kuA
dk.vk. 4534¼v½.—le;≤ ij ;Fkk l'a kkfs/kr fon's k O;kikj uhfr] 2015&2020 d s iSjk 1-02 vkSj 2-01 d s lkFk
ifBr fon's k O;kikj ¼fodkl ,o a fofu;eu½ vf/kfu;e] 1992 dh /kkjk 3 }kjk iznÙk “kfDr;k sa dk iz;kxs djr s gq,] dUs nz ljdkj
,rn~}kjk vkbZVhlh ¼,p,l½] 2017] vuqlpw h&I ¼vk;kr uhfr½ d s v/;k;&71 d s rgr fdlh Hkh #i e sa ekSfnzd lkus k vkSj pkna h
dk s NkMs d+ j fdlh Hkh #i e sa lkus k dh vk;kr uhfr e sa “krksZ a d s lkFk l”a kk/s ku djrh gSA
,fDte Ekn fooj.k ekStwnk Lka’kksf/kr ekStwnk Lka’kksf/kr uhfrxr ’krZ
dksM uhfr uhfr uhfrxr ’krZ
71061000 ikmMj eqDr Ikzfrcfa/kr vkjchvkbZ vkjchvkbZ ¼cdSa k sa d s ekey s e½sa vkSj Mhth,QVh
fofu;euk sa d s ¼vU; ,tfsal;k sa d s fy,½ }kjk ;Fkk vf/klfwpr
v/;/khu dsoy ukfer ,tfsal;k sa d s ek/;e l s vk;kr
dh vuqefr gSA
71069100 vux<+ eqDr Ikzfrcfa/kr vkjchvkbZ vkjchvkbZ ¼cdSa k sa d s ekey s e½sa vkSj Mhth,QVh
fofu;euk sa d s ¼vU; ,tfsal;k sa d s fy,½ }kjk ;Fkk vf/klfwpr
v/;/khu dsoy ukfer ,tfsal;k sa d s ek/;e l s vk;kr
dh vuqefr gSA
,; w “krZ d s lkFk ykblUsa l d s eí s fjQkbufj;k sa
}kjk flYoj Mksj s dk vk;kr fd;k tk ldrk
gSA
71069210 “khV] IyVs ] eqDr Ikzfrcfa/kr vkjchvkbZ vkjchvkbZ ¼cdSa k sa d s ekey s e½sa vkSj Mhth,QVh
fLVªi] V~;cw fofu;euk sa d s ¼vU; ,tfsal;k sa d s fy,½ }kjk ;Fkk vf/klfwpr
6516 GI/2019 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
vkSj ikbi v/;/khu dsoy ukfer ,tfsal;k sa d s ek/;e l s vk;kr
dh vuqefr gSA
71069290 vU; eqDr Ikzfrcfa/kr vkjchvkbZ vkjchvkbZ ¼cdSa k sa d s ekey s e½sa vkSj Mhth,QVh
fofu;euk sa d s ¼vU; ,tfsal;k sa d s fy,½ }kjk ;Fkk vf/klfwpr
v/;/khu dsoy ukfer ,tfsal;k sa d s ek/;e l s vk;kr
dh vuqefr gSA
71081100 ikmMj eqDr Ikzfrcfa/kr vkjchvkbZ vkjchvkbZ ¼cdSa k sa d s ekey s e½sa vkSj Mhth,QVh
fofu;euk sa d s ¼vU; ,tfsal;k sa d s fy,½ }kjk ;Fkk vf/klfwpr
v/;/khu dsoy ukfer ,tfsal;k sa d s ek/;e l s vk;kr
dh vuqefr gSA
71081200 vU; vux< eqDr Ikzfrcfa/kr vkjchvkbZ vkjchvkbZ ¼cdSa k sa d s ekey s e½sa vkSj Mhth,QVh
Lo#i fofu;euk sa d s ¼vU; ,tfsal;k sa d s fy,½ }kjk ;Fkk vf/klfwpr
v/;/khuA dsoy ukfer ,tfsal;k sa d s ek/;e l s vk;kr
rFkkfi] xkYs M dh vuqefr gSA
Mksj s dh vk;kr ,; w “krZ d s lkFk ykblUsa l d s eí s fjQkbufj;k sa
uhfr }kjk xkYs M Mksj s dk vk;kr fd;k tk ldrk
^^izfrcfa?kr^^ gAS gSA
71081300 vU; eqDr Ikzfrcfa/kr vkjchvkbZ vkjchvkbZ ¼cdSa k sa d s ekey s e½sa vkSj Mhth,QVh
v/kZ&fofufeZr fofu;euk sa d s ¼vU; ,tfsal;k sa d s fy,½ }kjk ;Fkk vf/klfwpr
Lo#i v/;/khu dsoy ukfer ,tfsal;k sa d s ek/;e l s vk;kr
dh vuqefr gSA
71189000 vU; eqDr Ikzfrcfa/kr vkjchvkbZ vkjchvkbZ ¼cdSa k sa d s ekey s e½sa vkSj Mhth,QVh
fofu;euk sa d s ¼vU; ,tfsal;k sa d s fy,½ }kjk ;Fkk vf/klfwpr
v/;/khu dsoy ukfer ,tfsal;k sa d s ek/;e l s vk;kr
dh vuqefr gSA
2- vfxze izkf/kdkj i= d s rgr lkus s dk vk;kr vkSj fu;kZr vkn”s k d s eí s fon”s k O;kikj uhfr d s iSjk 4-45 d s rgr fon”s kh
Øsrkvk sa }kjk fu;kZrdk sa dk s lh/k s lkus s dh vkifwrZ dk s l”a kkfs/kr izko/kkuk sa l s NVw gSA
vf/klwpuk dk izHkko% fdlh Hkh #i e sa ekSfndz lkus k vkSj pkna h dk s NkMs d+ j fdlh Hkh #i e sa lkus k dh vk;kr uhfr dk s ^eqDr^
l s l”a kkfs/kr dj ^ifzrcfa/kr^ fd;k tkrk gS( vkjchvkb Z ¼cSda k sa d s ekey s e½sa vkSj Mhth,QVh ¼vU; ,tfsal;k sa d s fy,½ }kjk ;Fkk
vf/klfwpr dsoy ukfer ,tfsal;k sa d s ek/;e l s vk;kr dh vuqefr gSA rFkkfi] vfxze izkf/kdkj i= ds rgr lksus dk
vk;kr vkSj fu;kZr vkns’k ds eís fons’k O;kikj uhfr ds iSjk 4-45 ds rgr fons’kh Øsrkvksa }kjk fu;kZrdksa dks
lh/ks lksus dh vkiwfrZ dks la’kksf/kr izko/kkuksa ls NwV gSA
bl s okf.kT; vkSj m|kxs ea=h d s vuqekns u l s tkjh fd;k tkrk gAS
[Qk. l-a 01@89@180@36@,,e&11@ihlh&2¼d½@[kMa &IV@bZ&1717]
vfer ;kno] egkfun's kd] fon's k O;kikj ,o a inus vij lfpo
fVIi.kh % fnukda 17 tuojh] 2017 dh iz/kku vf/klpw uk l[a ;k 36@2015&2020 dk s fnukda 17 tuojh] 2017 dh l[a ;k
dk- vk- 172 ¼v½ }kjk Hkkjr d s jkti=] vlk/kkj.k e sa idz kf”kr fd;k x;k FkkA
MINISTRY OF COMMERCE AND INDUSTRY
(Department of Commerce)
(DIRECTORATE GENERAL OF FOREIGN TRADE)
NOTIFICATION
New Delhi, the 18th December, 2019
No. 36/2015-2020
Subject : Amendment in import policy conditions of gold and silver under Chapter 71 of ITC (HS), 2017,
Schedule –I (Import Policy).
S.O. 4534(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).¹Hkkx IIµ[k.M 3(ii)] Hkkjr dk jkti=k % vlk/kj.k 3
Exim Code Item Description Present Revised Existing Policy Revised Policy Condition
Policy Policy Condition
71061000 Powder Free Restricted Subject to RBI Import is allowed only through nominated
Regulations agencies as notified by RBI (in case of
banks) and DGFT (for other agencies).
71069100 Unwrought Free Restricted Subject to RBI Import is allowed only through nominated
Regulations 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, Free Restricted Subject to RBI Import is allowed only through nominated
strips, tubes and Regulations agencies as notified by RBI (in case of
pipes banks) and DGFT (for other agencies).
71069290 Other Free Restricted Subject to RBI Import is allowed only through nominated
Regulations agencies as notified by RBI (in case of
banks) and DGFT (for other agencies).
71081100 Powder Free Restricted Subject to RBI Import is allowed only through nominated
Regulations agencies as notified by RBI (in case of
banks) and DGFT (for other agencies).
71081200 Other unwrought Free Restricted Subject to RBI Import is allowed only through nominated
forms Regulations. agencies as notified by RBI (in case of
However, import banks) and DGFT (for other agencies).
policy of Gold Dore
is “Restricted”. Gold dore can be imported by refineries
against a licence with AU condition
71081300 Other semi- Free Restricted Subject to RBI Import is allowed only through nominated
manufactured forms Regulations agencies as notified by RBI (in case of
banks) and DGFT (for other agencies).
71189000 Other Free Restricted Subject to RBI Import is allowed only through nominated
Regulations 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)/Vol.IV/e-1717)]
AMIT YADAV, Director General of Foreign Trade & Ex- officio Addl. Secy.
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.
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.