Government of India
Ministry of Commerce & Industry
Department of Commerce
Directorate General of Foreign Trade
Notification No. 25/2015-2020
New Delhi, Dated: 25th August, 2017
Subject: Amendment in import policy of gold and silver under Chapter 71 of the ITC(HS) 2017, Schedule- I (Import Policy).
S.O. (E): In exercise of powers conferred by Section 3 (2) of the FT(D&R)Act, 1992 as amended from time to time, read with paragraph 1.02 and 2.01 of the Foreign Trade Policy, 2015-2020, the Central Government hereby inserts Policy Condition No. 4 under Chapter 71 of the ITC(HS) 2017, Schedule- I (Import Policy) to read as under:-
“Imports from South Korea of articles of jewellery and parts thereof, of precious metal or of metal clad with precious metal under Exim code 7113; articles of goldsmiths’ or silversmiths’ wares and parts thereof, of precious metal or of metal clad with precious metal under Exim code 7114; other articles of precious metal or of metal clad with precious metal under Exim code 7115; and coins under Exim code 7118 are Restricted.”
2. The facility/protection under para 1.05 of FTP shall not be available for import of the above items from the date of restriction.
3. Effect of this Notification: Policy Condition No. 4 restricting imports of gold and silver under Exim Codes 7113, 7114, 7115 and 7118 from South Korea is inserted in Chapter 71 of ITC(HS) 2017.
(Alok Vardhan Chaturvedi)
Director General of Foreign Trade
[Issued from F.No. 01/89/180/36/AM-11/PC-2(A)]