The DGFT (Directorate General of Foreign Trade) has clarified that the Gold Import Restrictions Notified in Notification no. 17/2024-25 dated 11.06.2024 is not applicable to the SEZ Units (Other than FTWZ units).
Following the issuance of the Notification Restricting the import of Gold studded with pearls, precious stones..etc under ITC (HS) Codes 71131912, 71131913, 71131915, and 71131960, representations have been received from SEZ Units highlighting their challenges.
The DGFT, referencing the Rule 27(1) of the Special Economic Zone Rules, 2006 clarified that imports under the mentioned ITC (HS) Codes by SEZ units (excluding FTWZ units) are not affected by this notification.
The government has notified the amendment on import of specific gold items from ‘Free’ status to ‘Restricted’ on 11th June 2024, however with conditions. The condition imposed is that “import under a valid INDIA-UAE CEPA TRQ shall be permitted without restricted import Authorisation”.
Thus, it can be inferred from the both notifications of the DGFT that the SEZ units other than FTWZ units can import these restricted specific gold items without restriction and without a valid INDIA-UAE CEPA TRQ.
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