**Summary:**
This notification, No. 22/2015-2020, issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industry, Government of India, dated September 2, 2021, amends Notification No. 36/2015-2020 dated December 18, 2019, under Sections 3 and 5 of the Foreign Trade (Development and Regulation) Act, as amended. The amendment incorporates an explanation regarding the definition of "Gold in any form" under Chapter 71 of the ITC (HS), 2017, Schedule I (Import Policy). Specifically, "Gold in any form" includes gold above 22 carats. The notification clarifies that imports of gold in any form above 22 carats can only be made by nominated agencies as notified by the Reserve Bank of India (RBI) for banks and by DGFT for other entities. The notification is issued with the approval of the Minister of Commerce and Industry. The file number for reference is F.No. 01/89/180/36/AM11/PC2[A]/Part-I/E-1717. Amit Yadav, Director General of Foreign Trade and Ex-officio Additional Secretary to the Government of India, has issued the notification.
Key Entities Referenced
Ministry of Commerce Industry: A ministry of the Government of India, responsible for the development and regulation of India's international trade and commerce.
Directorate General of Foreign Trade: An agency of the Ministry of Commerce and Industry, responsible for implementing the foreign trade policy of India.
Notification No. 22 20152020: A notification issued by the Directorate General of Foreign Trade.
New Delhi: The location where the notification was issued.
Foreign Trade Policy 2015-2020: The foreign trade policy in effect during the period 2015-2020.
Notification No.3620152020: Another notification issued by the Directorate General of Foreign Trade, dated 18th December 2019, which is being amended by this notification.
ITC HS, 2017, Schedule I Import Policy: Indian Trade Classification (Harmonised System) which is used for import and export regulations.
Reserve Bank of India: The central bank of India, referred to in the context of nominated agencies for gold imports.
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. 22 /2015-2020
New Delhi, Dated: 2TM September, 2021
Subject: Incorporation of Explanation in Notification No.36/2015-2020 dated is”
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from time to time, the Central Government hereby incorporates following explanation in the
notification No.36/2015-2020 dated 18" December, 2019, as under:
Explanation: The expression “Gold in any form” includes gold in any form above 22 carats
under Chapter 71 of ITC (HS), 2017, Schedule — I (Import Policy). Such imports can be made
only by nominated agencies as notified by RBI (in case of banks) and DGFT (in case of others).
This issues with the approval of Minister of Commerce & Industry.
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(Amit oya ncavy aa
Director General of Foreign Trade&
Ex- officio Addl. Secretary to the Government of India
(F.No. 01/89/180/36/AM-1 1/PC-2[A ]/Part-I/e-1717)