Directorate General of Foreign Trade (DGFT), under the Ministry of Commerce & Industry, has amended the import policy and conditions for specific ITC (HS) codes under Chapter 71 (covering precious metals like gold, silver, and platinum) of Schedule-I of the ITC (HS) 2022, in alignment with the Finance Act 2025. These changes are effective immediately.
Key modifications include the deletion and restructuring of various codes related to the import of silver, gold, and platinum in unwrought, semi-manufactured, and powder forms. Import of high-purity silver (99.9% or more) and gold (99.5% or more) is now restricted and allowed only through nominated agencies as specified by RBI and DGFT, and qualified jewellers via the India International Bullion Exchange (IIBX). Additionally, India-UAE TRQ holders can import through IIBX under specific conditions, with storage in IFSCA-registered vaults in SEZs.
Several codes have been deleted, while new classifications specify different import conditions. Platinum import rules have also been restructured, with distinctions based on form (unwrought, powder) and purity levels. Some categories are now “restricted” or “free,” depending on the purity and importer type.
These changes aim to streamline bullion imports and align trade policy with recent legislative updates. Importers are advised to review the new codes and associated conditions carefully to ensure compliance. This notification supersedes earlier rules and has been approved by the Minister of Commerce & Industry.
Government of India
Ministry of Commerce & Industry
Department of Commerce
Directorate General of Foreign Trade
Vanijya Bhawan
Notification No. 08/2025-26-DGFT | Dated: 19 May, 2025
Subject: Amendment in Import Policy and Policy Conditions of specific ITC (HS) codes under Chapter 71 of Schedule —I(Import Policy) of ITC (HS) 2022 in sync with the Finance Act 2025 -reg.
S.O. 2237 (E). In exercise of powers conferred by Section 3 read with Section 5 of Foreign Trade (Development & Regulation) Act, 1992, read with paragraph 1.02 and 2.01 of the Foreign Trade Policy (FTP) 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) of ITC (HS) 2022 in sync with the Finance Act 2025 dated 29.03.2025, with immediate effect.
2. In Chapter 71, ITC (HS) 2022, Schedule—I (Import Policy), the details of the ITC(HS) codes that have been deleted and the Import Policy and Policy Conditions against the newly created ITC(HS) codes is notified as under:
| ITC(HS) Code | Item Description | Import Policy | Policy Condition |
| 7106 | Silver (including silver plated with gold or platinum), unwrought or in semi manufactured forms, or in powder form. | ||
| 710691 | Other :— Unwrought: | ||
| 71069120 | Containing 99.9 per cent. or more by weight of silver | Restricted | Import is allowed only through nominated agencies as notified by RBI (in case of banks), DGFT (for other agencies) and by qualified jewellers as notified by the IFSCA for import through India International Bullion Exchange (IIBX). |
| 710692 | Other : — Semi-manufactured | ||
| 71069220 | Bar | Deleted | |
| 71069221 | Bar: Containing,Free 99.9 percent or more by weight of silver |
Subject to RBI Regulations. | |
| 71069229 | Bar—- Other | Free | Subject to RBI Regulations. |
| 7108 | Gold (including gold plated with platinum) unwrought or in semi manufactured forms, or in powder form. | ||
| 710812 | — Other unwrought forms: | ||
| 71081200 | – Non-monetary: —
Other unwrought |
Deleted | |
| 71081210— | Containing 99.5 per cent. or more by weight of gold | Restricted | 1. Import is allowed through:
(i) Nominated agencies as notified by RBI (in case of banks) or nominated agencies notified DGFT (for other agencies) (i) Qualified Jewellers (as notified by IFSCA) through India International Bullion Exchange 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. |
| 71081290— | Other | Restricted | 1. Import is allowed through:
(ii)Nominated agencies as notified by RBI (in case of banks) or nominated agencies notified DGFT (for other agencies) (ii) Qualified Jewellers (as notified by IFSCA) through India International Bullion Exchange 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 imported by refineries against an import license with Actual User (AU) condition. |
| 710813 | — Other semi-manufactured forms: | ||
| 71081300 | – Non-monetary: —
Other semi- |
Deleted | |
| 71081310— | Containing 99.5 per cent. or more by weight of gold | Restricted | Import is allowed only through nominated agencies as notified by RBI (in case of banks) and DGFT (for other agencies) |
| 71081390— | Other | Restricted | Import is allowed only through nominated agencies as notified by RBI (in case of banks) and DGFT (for other agencies) |
| 7110 | Platinum, unwrought or in semi manufactured forms, or in powder form. | ||
| 711011 | Platinum: — Unwrought or in powder form | ||
| 71101 I 10 | — Unwrought form | Deleted | |
| 71101111 | — Unwrought form —
Containing 99.0 per cent or more by weight of platinum |
Free | – |
| 71101119 | —Unwrought form: — Other | Restricted | – |
| 71101120— | In powder form | Deleted | |
| 71101121— | In powder form: — Containing 99.0 per cent. or more by weight of platinum | Free | – |
| 71101129— | In powder form: — other | Restricted | – |
| 711019 | —Other | ||
| 71101900- | Platinum : — Other | Deleted | |
| 71101910 | — Containing 99.0 per cent. or more by weight of platinum | Free | – |
| 71101990 | —Other | Restricted | – |
Effect of the Notification:
The Import Policy of the ITC(HS) codes under Chapter 71 of ITC (HS) 2022, Schedule-I (Import Policy), newly created under the Finance Act, 2025 dated 29.03.2025, is notified with immediate effect.
This is issued with the approval of Minister of Commerce & Industry.
(Ajay Bhadoo)
Director General of Foreign Trade
& Addl. Secretary to the Government of India
Email: dgft@nic.in
[Issued from File No. 01/89/180/36/AM-11/PC-2[A]/Part-VII / E-34827]
