Import Licensing Notes
(Public Notice No. 51 (PN)/97-02 dated 27.10.1997 and Public Notice No. 54(PN)/97-02 dated 4.11.1997, in this Import licensing note stands deleted vide
NTF NO. 29/2003, DT. 28/01/2004)
(1) Policy relating to import of gold and silver
Public Notice No. 51 (PN)/97-02 dated the 27th October, 1997
Attention is invited to Public Notice No. 214/(PN)/92-97 dated 1st June, 1994 vide which import of gold and silver was allowed without licence, by Reserve Bank of India or any other agency to be designated by the Ministry of Finance (Deptt. of Economic Affairs). In exercise of the powers conferred under Paragraph 4.11 of the Export and Import Policy, 1997 - 2002 read with Col.4 of the ITC(HS) Classification in Chapter 71, the Director General of Foreign Trade hereby notifies that these designated agencies as mentioned in the Notification 80/97 referred above may import gold and silver for sale in the domestic market also without a licence or without surrender of SIL in respect of following entries of ITC(HS) Classifications of Export and Import Items, 1997-2002 :-
| Exim Code | Item Description |
|---|
| SILVER : |
| 71061000 | Powder |
| 71069100 | Unwrought |
| 71069201 | Sheets plates strips tubes and pipes of silver |
| (71069210 is new code assigned to this item.) |
| 71069209 | All other semi-manufactured form of silver |
| (71069290 is the new code assigned to this item) |
| GOLD : |
| 71081100 | Powder |
| 71081200 | Other unwrought forms |
| 71081300 | Other semi-manufactured forms |
2. However Policy indicated against the above mentioned entries of ITC(HS) Classification shall remain in force for direct imports by importers other than the above designated agencies.
3. This issues in public interest
Public Notice No. 54 (PN)/97-02 dated the 4th November, 1997
Attention is invited to Public Notice No. 51/(PN)/92-97 dated 27th October, l997, on the above subject. In partial modification of the above Public Notice, it is hereby notified that the import of gold and silver shall be permitted to the nominated and authorised agencies by the Reserve Bank of India RBI) / Ministry of Finance.
4. Import of rough diamonds covered under this Chapter must be accompanied by Kimberley Process (KP) Certificate
/letter of comfort.
(Above Note 4 has been added vide
Ntf. No. 21/2002-07, Dt. 26/12/2002 & effective from 01/01/2003)
Section XIV
Cha. 71