Executive Summary:
This trade notice from the Indian Ministry of Commerce and Industry outlines the procedure for filing applications for Tariff Rate Quota (TRQ) of Gold Bullion under the India-UAE CEPA for FY 2025-26. Applicants must indicate the purpose of gold import and provide turnover details related to specific HS codes. The deadline for submitting applications is February 28, 2025.
Key Points / Main Content:
Application Procedure:
* Last date for submitting TRQ applications for gold bullion import under the India-UAE CEPA for FY 2025-26 is February 28, 2025.
* Applicants must specify the purpose of gold import: Manufacturing, Trading, or Both.
Required Documentation:
* Applicants must provide turnover details for goods manufactured or sold under HS Codes 7108, 7113, 7114, and 7118 in prescribed formats A and B.
* Financial statements must be certified by a Chartered Accountant, based on GST filings for FY 2021-22, FY 2022-23, FY 2023-24, and FY 2024-25.
* Turnover details must be entered in the online application.
Allocation and Review:
* Applications can be amended to include the required details.
* Modalities for allocating 180MT of gold bullion will be decided by the Special EFC.
* TRQ allocation is subject to a six-monthly review.
* Under-utilization of TRQ (below 25%) may result in reallocation of 50% of the balance to other allottees.
* TRQ utilization will be assessed based on Bills of Entry maintained in the DGFT online repository.
Impact Analysis:
Industry and Trade:
Impact: Must adhere to the new application procedure, including specifying the purpose of gold import and providing detailed turnover information.
Action Required: Prepare and submit applications by February 28, 2025, including all required documentation and details. Amend already submitted applications to include the new details.
Nominated Agencies/AD Banks:
Impact: Need to be aware of the updated application procedure and documentation requirements for TRQ allocation.
Action Required: Assist applicants in preparing and submitting their applications according to the outlined procedure.
Customs Authorities:
Impact: Responsible for monitoring and assessing TRQ utilization based on Bills of Entry.
Action Required: Ensure compliance with the six-monthly review process and reallocation of TRQ as necessary.
IFSCA/IBX:
Impact: Must be informed of the updated procedures related to TRQ for gold bullion under the India-UAE CEPA.
Action Required: Ensure compliance with the trade notice and disseminate relevant information to stakeholders.
Key Entities Referenced
IndiaUAE CEPA: Comprehensive Economic Partnership Agreement between India and the United Arab Emirates.
Tariff Rate Quota: Mechanism for managing imports of Gold Bullion under the IndiaUAE CEPA.
Gold Bullion: Subject of the Tariff Rate Quota being allocated under the IndiaUAE CEPA.
FY 202526: Financial Year 2025-2026, the period for which the TRQ is being allocated.
HS Codes 7108, 7113, 7114, and 7118: Harmonized System codes pertaining to goods manufactured or sold, used for turnover details reporting.
Special EFC: Committee that will decide the modalities of allocation of 180MT (metric tons).
Directorate General of Foreign Trade (DGFT): Organization that maintains the online repository of Bills of Entry for assessing TRQ utilization.
Deepak Jhalani: Deputy Director General of Foreign Trade, the issuing authority of the trade notice.
Government of India
Ministry of Commerce & Industry
Department of Commerce
Vanijya Bhawan, New Delhi
Trade Notice No. 30/2024-2025
To,
1. Industry and Trade;
= All Nominated Agencies/AD Banks;
All concerned Customs Authorities; and
IFSCA/IBX.
@
Dated: 12.02.2025
Subject — Procedure for filing application for allocation of Tariff Rate Quota (IRQ) of Gold Bullion
under India-UAE CEPA for FY 2025-26
Reference is invited to Annexure-IV of Appendix-2A concerning the import of items under the TRQ of
India-UAE CEPA. It is reiterated that the last date for submitting applications for TRQ under the India-
UAE CEPA for FY 2025-26 for import of gold bullion is 28.02.2025.
2. The applicants are required to additionally indicate the purpose for import of Gold under TRQ for FY
2025-26, as follows:
e For Manufacturing;
e For Trading Purposes; or
e For Both
3. To substantiate the above, the applicants are required to provide their turnover details pertaining to
goods manufactured or sold under HS Codes 7108, 7113, 7114, and 7118, classified under Chapter 71 of
the ITC (HS) in the prescribed format A and B. The financial statements in the following format, must be
certified by a Chartered Accountant, based on the applicant’s GST filings for the relevant period -
A. For the past 3 years ( FY 2021-22, FY 2022-23, FY 2023-24):
Turnover (%|/Turnover (%| Turnover (% |Total Turnover (2
Sr Nature of the sale Lakhs.) in | Lakhs.) in | Lakhs.) in FY | Lakhs.) since FY
No. FY 2021-22] FY 2022-23 2023-24 2021-22
I {il Leet IV 1V IVI
Manufacturing (of goods
falling under HS Codes 7113,
— 7114, and 7118)Trading (of goods falling
nder HS Codes 7108, 7113,
2/7114, and 7118)
B. For current financial year (FY 2024-25):
Sr No. Na, ture of ‘Turnover (% Lakhs.) in FY the sale
1024-25
T IH
HI
Manufacturing (of goods falling under HS Codes 71 13,
1 7114, and 7118)
Trading (of goods falling under HS Codes 7108, 7113,
2 7114, and 7118)
Note: Applicants must enter the relevant turnover details in the online application as per the table above
and ensure its submission as part of their online filing.
4. The applications, which have been already submitted, will be made available to the applicants for
amendment to add above-mentioned details in the applications.
oy The modalities of allocation of 180MT shall be decided by the Special EFC in its first meeting
based on the information and details available before the committee.
6. The TRQ allocation shall be subject to a 6-monthly review as notified vide Public Notice No. 12
dated 28.04.2023. In cases where the TRQ utilisation is found to be <-25% in the said review process,
50% of the balance TRQ quantities shall be deemed to be considered as surrendered and shall be
considered for re-allocation to other TRQ Allottees. The records pertaining to TRQ utilisation shall be
assessed based on the Bills of Entry as maintained within the Directorate General of Foreign Trade
(DGFT) online repository.
ai cf t ivitieT s.his is issued for information and compliance by all stakeholders involved in TRQ impo
Ye o
eepak Jhalani)
Deputy Director General of Foreign Trade
Email — deepak.jhalani@gov.in
(Issued from File No. 01/89/180/89/AM-24/PC-2(A)|E-42042)