Amendment in import policy conditions of Silver under Chapter 71 of ITC (HS), 2017, Schedule – I (Import Policy) - 05/2015-2020 - Foreign Trade Policy

MINISTRY OF COMMERCE INDUSTRY (Department of Commerce) (Directorate General of Foreign Trade) NOTIFICATION No. 05/2015-2020 New Delhi, the 13th May, 2020 Subject: Amendment in import policy conditions of Silver under Chapter 71 of ITC (HS), 2017, Schedule I (Import Policy). S.O. 1460(E).- In exercise of powers conferred by Section 3 of FT (D R) Act, 1992 , read with paragraph 1.02 and 2.01 of the Foreign Trade Policy, 2015-2020 , as amended from time to time, the Central Government hereby amends the import policy conditions of Silver under Chapter 71 of ITC (HS), 2017, Schedule I (Import Policy). Exim Code Item Description Import Policy Existing Policy Condition Revised Policy Condition 71061000 Powder Restricted Import is allowed only through nominated agencies as notified by RBI (in case of banks) and DGFT (for other agencies) Import is allowed only through nominated agencies as notified by RBI (in case of banks) and DGFT (for other agencies). However, import of Silver under Advance Authorisation and supply of silver directly by foreign buyers to exporters under Para 4.45 of FTP against export orders are exempted. 71069100 Unwrought Restricted Import is allowed only through nominated agencies as notified by RBI (in case of banks) and DGFT (for other agencies) Import is allowed only through nominated agencies as notified by RBI (in case of banks) and DGFT (for other agencies). However, import of Silver under Advance Authorisation and supply of silver directly by foreign buyers to exporters under Para 4.45 of FTP against export orders are exempted. 71069210 Sheets, plates, strips, tubes and pipes Restricted Import is allowed only through nominated agencies as notified by RBI (in case of banks) and DGFT (for other agencies) Import is allowed only through nominated agencies as notified by RBI (in case of banks) and DGFT (for other agencies). However, import of Silver under Advance Authorisation and supply of silver directly by foreign buyers to exporters under Para 4.45 of FTP against export orders are exempted. 71069290 Other Restricted Import is allowed only through nominated agencies as notified by RBI (in case of banks) and DGFT (for other agencies) Import is allowed only through nominated agencies as notified by RBI (in case of banks) and DGFT (for other agencies). However, import of Silver under Advance Authorisation and supply of silver directly by foreign buyers to exporters under Para 4.45 of FTP against export orders are exempted. Effect of the Notification: Import of Silver under Advance Authorisation and supply of silver directly by foreign buyers to exporters under Para 4.45 of FTP against export orders are exempted. This issues with the approval of Minister of Commerce Industry. [F. No. 01/89/180/36/AM-11/PC-2[A]/E-1679] AMIT YADAV, Director General of Foreign Trade Ex- officio Addl. Secy. Note: The principal notification No. 36/2015-2020, dated the 17th January, 2017 was published in the Gazette of India, Extraordinary vide number S.O. 172(E), dated the 17th January, 2017 and Notification No. 36/2015-2020, dated 18th December, 2019 was published in the Gazette of India, Extraordinary vide number S.O. 4534(E), dated the 18th December, 2019.