Govt. imposes restriction on import of gold and silver from South Korea

To be published in the Gazette of India Extraordinary Part-II , Section-3, Sub Section (ii)

Government of India

Ministry of Commerce and Industry

Department of Commerce

Directorate General of Foreign Trade

Notification No.25/2015-2020

New Delhi, Dated 25^th August 2017

 

Subject: Amendment in import policy of gold and silver under Chapter 71 of 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 paragrapdh 1.02 and 2.01 of the Foreign trade Policy, 2015-202, 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:-

“Import from South Korea of articles of jewellery and parts thereof   of precious metal or metal clad with precious metal under Exim code 7113;articles of Goldsmiths or silversmiths wares and parts thereof, of precious metals  under Exim code 7114; other articles of precious metal or of metal claud 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 restruction.
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

(Alol Vardhan Chaturvedi)

Director General of Foreign Trade

Email: dgft@nic.in

[Issued from F.No. 01/89/180/36/AM-11/PC-2(A)]