The Directorate General of Foreign Trade (DGFT), vide notification no. 19/2023 issued on 12th July 2023, notified the free permit to import gold cover under the valid India-UAE Comprehensive Economic Partnership Agreement (CEPA) Tariff Rate Quota (TRQ) without license.
The Central Government has modified the import policy and policy conditions associated with specific ITC (HS) Codes within Chapter 71 of Schedule-I (Import Policy) – ITC (HS), 2022, by using the authority granted under Sections 3 and 5 of the Foreign Trade (Development & Regulation) Act, 1992, in conjunction with paragraphs 1.02 and 2.01 of the Foreign Trade Policy 2023, as periodically revised.
| HS Codes | Item Description | Existing Import Policy Condition | Existing Policy Condition | Revised Import Policy | Revised Policy Condition |
| 71131911 | — Of gold Unstudded | Free | – | Restricted | However, Import under a valid INDIA-UAE CEPA TRQ shall be permitted freely without any import license. |
| 71131919 | Of gold —-Other | Free | – | Restricted | – |
| 71141910 | – Articles of Gold | Free | – | Restricted | – |
The effect of the notification is that the Import Policy of ITC (HS) code 71 131911, 71131919 and 71141910 has been amended from “Free” to “Restricted” with immediate effect. However, import under HS code 71131911 shall be permitted freely without any import license under a valid India-UAE CEPA TRQ. The free permit is allowed only under a valid CEPA TRQ otherwise it’s restricted.
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