By Harsh Ashar January 23, 2024

DGFT amends Policy Condition of Silver covered under Chapter 71 of Import Policy

The Central Government hereby makes the following amendments under Chapter 71 of Schedule (Import Policy) of ITC(HS) 2022.

Policy Condition no. 05 of the Chapter 71 is introduced as under:

Import of Semi-Manufactured Silver Paste, Sheets, Plates, Strips Tubes, Electrodes, Wires, Silver Brazing Alloys (in any form), by Electrical, Electronics and Engineering industries including Glass and Solar Industries as input for their own manufacturing process on "Actual User' Basis shall be ‘Free’.
Import items mentioned at serial (i) above for Research & Development purposes by Government or Government Recognised Research Institutions shall also be ‘Free’.
Import for other purposes is permitted through Nominated Agencies as notified by RBI (in case of banks) and DGFT (for other agencies).

The Import Policy Condition for the following ITC (HS) Codes is amended as under:

ITC (HS) Code & Description

Import Policy

Existing Policy Condition

Revised Policy Condition

71069210

– Other: –Semi-manufactured — Sheets, plates, strips, tubes and pipes

Restricted

Import is allowed only through nominated agencies as notified by RBI (in case of banks), DGFT (for other agencies)

Subject to Policy Condition no. 05 of this Chapter.

71069210

– Other: –Semi-manufactured —

Others

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).

Subject to Policy Condition no. 05 of this Chapter.

Import for other purposes is permitted through Qualified Jewellers as notified by the IFSCA for import through India International Bullion Exchange (IIBX).