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Core Purpose

Notification by the Directorate General of Foreign Trade amending the import policy condition for Gold under ITC(HS) Code 71081200 of Chapter 71, Schedule-I (Import Policy) of ITC (HS) 2022, to permit import via qualified jewellers through the India International Bullion Exchange and by India-UAE TRQ holders.

Detailed Summary

Issued by the Ministry of Commerce and Industry, Department of Commerce, Directorate General of Foreign Trade, as Notification No. 44/2023, dated 20th November, 2023 (S.O. 4990(E)), under sections 3 and 5 of the Foreign Trade (Development & Regulation) Act, 1992 read with paragraphs 1.02 and 2.01 of the Foreign Trade Policy 2023, this notification amends, with immediate effect, the import policy condition for ITC(HS) Code 71081200 (gold, other unwrought forms) under Chapter 71 of Schedule-I (Import Policy) of ITC (HS) 2022. The revised condition permits import: (i) through nominated agencies notified by RBI (for banks) or DGFT (for other agencies); (ii) by Qualified Jewellers notified by the International Financial Services Centres Authority (IFSCA) through the India International Bullion Exchange (IIBX); (iii) by valid India-UAE Tariff Rate Quota (TRQ) holders notified by IFSCA, importing gold through IIBX against the TRQ with physical delivery via IFSCA-registered vaults located in Special Economic Zones as per IFSCA guidelines; and (iv) Gold Dore importable by refineries against an import licence with Actual User (AU) condition. Issued with the approval of the Minister of Commerce & Industry, under F. No. 01/89/180/01/AM-22/PC-2[B]/E-31419, and signed by Santosh Kumar Sarangi, Director General of Foreign Trade and Ex-officio Additional Secretary.

Full Text

7254 GI/202 3 (1) EXTRAORDINARY PART II —Section 3 —Sub-section ( ii) PUBLISHED BY AUTHORITY ( ) ( ) s’k I का.आ. 4990(अ).—le;&le; ij ;Fkk la'kks/ku fons'k O;kikj uhfr 2023 ds iSjk 1 -02 vkSj 2-01 ds lkFk ifBr fons 'k O;kikj ¼fodkl vkSj fofu;eu½ vf/kfu;e] 19 92 dh /kkjk 3 vkSj /kkjk 5 }kjk iznÙk “kfDr;ksa dk iz;ksx djrs gq, dsUnz ljdkj ,rn}kjk vkbZVhlh ¼,p,l½ 2022] vuqlwph& I ¼vk;kr uhfr½ ds v/;k; 71 ds vkbZVhlh ¼,p,l½ dksM 71081200 gsrq vk;kr uhfrxr “krZ es a rRdky izHkko ls fuEukuqlkj la 'kks/ku djrh “krZ “krZ 71081200 -- vU; izfrcaf/kr vkjchvkbZ ¼cSadksa ds ekeys esa½ Mhth,QVh ¼vU; ,tsafl;ksa ds 1- vk;kr dh vu qefr fuEufyf[kr ds ek/;e ls No. 4781] NEW DELHI, MONDAY , NOVEMBER 20 , 2023/ KARTIKA 29, 1945 CG-DL-E-21112023-250178 vux<+ Lo#i fy,½ vkSj vkbZ,Q,llh, ¼bafM;k baVjus 'kuy cqfy;u ,Dlpsat ds }kjk vgZrkizkIr ToSylZ ds fy,½ }kjk ;Fkk vf/klwfpr dsoy ukfer ,tsafl;ksa ds ek/;e ls vk;kr dh vuqefr gSA lksus ds Mksjk dk ,;w “krZ ds lkFk vk;kr ykblsal ds rgr fjQkbufj;ksa }kjk vk;kr fd;k tk ldrk gSA ¼i½ vkjchvkbZ ¼cSadksa ds ekey s esa½ }kjk ;Fkk vf/klwfpr ukfer ,tsafl;ka ;k Mhth,QVh ¼vU; ,tsafl;ksa ds fy,½ }kjk vf/klwfpr ukfer ,tsafl;kaA ¼ii½ bafM;k baVjus 'kuy cqfy;u ,Dlps at ¼vkbZvkbZch,Dl½ ds ek/;e ls vgZrkizkIr TosylZ ¼vkbZ,Q,llh, }kjk ;Fkk vf/klwfpr½ 2- vkbZ,Q,llh, }kjk ;Fkk vf/klwfpr oS/k Hkkjr&;w,bZ VhvkjD;w /kkjd VhvkjD;w ds rgr vkbZvkbZch,Dl ds ek/;e ls lksus dk vk;kr dj ldrs gSa vkSj vkbZ,Q,llh, }kjk fu/kkZfjr fn’kkfunsZ'kksa ds vuqlkj ,lbZtsM esa fLFkr vkbZ,Q,llh, iath—r okYV~l ds ek/;e ls bldh okLrfod fMyhojh izkIr dj ldrs gSaA 3- lksus dk Mksjk okLrfod mi;ksxdrkZ ¼,;w½ “krZ ds lkFk vk;kr ykblsal ds rgr fjQkbufj;ksa }kjk vk;kr fd;k tk ldrk gSA vkbZ,Q,llh, }kjk ;Fkk vf/klwfpr oS/k Hkkjr&;w,bZ VhvkjD;w /kkjd VhvkjD;w ds rgr vkbZvkbZch,Dl }kjk lksus d k vk;kr dj ldrs gSa vkS j vkbZ,Q,llh, }kjk fu/kkZfjr fn 'kkfunsZ'kksa ds vuqlkj ,lbZtsM esa fLFkr vkbZ,Q,llh, iath —r okWYV~l ds ek/;e ls bldh ok Lrfod fM fyojh izkIr dj ldrs gSaA bls okf.kT; ,oa m|ksx ea=h ds vuqeksnu ls tkjh fd;k tkrk gSA [फा. सं. 01@89@180@01@,,e&22@ihlh&2¼[k½ @bZ&31419 ] larks"k dqekj lkjaxh ] egkfuns'kd] fons'k O;kikj ,oa insu vij lfpo MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce ) (DIRECTORATE GENERAL OF FOREIGN TRADE ) NOTIFICATION New Delhi, the 20th November , 2023 No. 44/2023 Subject: Amendment in import policy condition of Gold under HS Code 71081200 under Chapter 71 of Schedule –I (Import Policy) of ITC (HS) 2022. S.O. 4 990(E).—In exercise of powers conferred by Section 3 and Section 5 o f 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 condition for ITC (HS) code 7108120 0 of Chapter 71 of ITC (HS), 2022, Schedule – I (Import Policy), with immediate effect, as under: ITC(HS) Code & Description Policy Existing Policy Condition Revised Policy Condition 71081200 -- Other unwrought forms Restricted Import is allowed only through nominated agencies as notified by RBI (in case of banks), DGFT (for other agencies) and IFSCA (for qualified jewellers through India International Bullion Exchange) Gold Dore can be imported by refineries against an import license with AU conditio n. 1. Import is allowed through: (i) Nominated agencies as notified by RBI (in case of banks) or nominated agencies notified DGFT (for other agencies) (ii) Qualified Jeweller (as notified by IFSCA) through India International Bulli on Exchange (IIBX) ; 2. Valid India -UAE TRQ holders as notified by IFSCA can import gold through IIBX against the TRQ and can obtain physical delivery of the same through IFSCA registered vaults located in SEZs as per the guidelines prescribed by the IFSCA . 3. Gold Dore can be im ported by refineries against an import licence with Actual User (AU) condition. Effect of the Notification: Valid India -UAE TRQ holders as notified by IFSCA can import gold through IIBX against the TRQ and can obtain physical delivery of the same through IFSCA registered vaults located in SEZs as per the guidelines prescribed by the IFSCA. This issue with the a pproval of Minister of Commerce & Industry. [F. No. 01/89/180/01/AM -22/PC -2[B]/E -31419 ] SANTOSH KUMAR SARANGI , Director General of Foreign Trade And Ex-officio Addl. Sec y. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi -110064 and Published by the Contro ller of Publications, Delhi -110054.

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