Gold Import Allowed Freely through GIFT City
·
Restriction to Allow Import
only to Manufacturer Removed along with six other Conditions to Improve offtake
·
TRQ with One Percent Duty
Benefit Opened
·
Manufacturer requirement for
import of Gold under HS code 7108 under the TRQ of India UAE CEPA has been waived
off in sync with Customs Notification 20/2023
[DGFT Public Notice No. 06 /2023 dated 17 April,
2023]
Effect
of this Public Notice: Condition (g) regarding
manufacturer requirement for import of Gold under HS code 7108 under the TRQ of
India UAE CEPA has been waived off in sync with Ministry of Finance (Department
of Revenue) Notification, No. 20/2023-Customs, dated 31st March 2023.
Subject:
Amendments in Annexure-IV under Appendix-2A (Imports of Items under TRQ under
India- UAE CEPA)
In exercise
of powers conferred under paragraph 1.03 and 2.04 of the Foreign Trade Policy,
2023 and in continuation to Public Notice No. 06/2015-20 dated 01.05.2022, 23/2015-20
dated 29.08.2022, 28/2015-20 dated 06.10.2022, 32/2015-20 dated 22.10.2022 and
47/2015-20 dated 29.12.2022, the Directorate General of Foreign Trade hereby amends
Annexure-IV of Appendix-2A laying down the procedure for import of items under TRQ
under India UAE CEPA, as under:
2. Condition (g) (i to vi) under Annexure-IV of Appendix-2A, shall be amended
as under:
|
S.No. |
Earlier
Provision |
Amended
Provision |
|
g. |
For
Gold TRQ under 7108the following conditions shall be considered additionally: i. Eligible Applicant must be a jewellery manufacturer. ii. Eligible Applicant
must be engaged in the business of goods falling under ITC(HS) codes 7108, 7113,
7114 and 7118 in Chapter 71 of ITC(HS). iii. Such Jewellery
manufacturer should have an average annual turnover of Rs. 25 crores over the
last 3 financial years. iv. The turnover
of such Jewellery manufacturer should either: • comprise of
90% of items manufactured/sold under HS code 7113, or • comprise of
a quantity of items manufactured/sold under HS code 7113 which is at least equal
to the TRQ quantity bid by the respective jewellery manufacturer (capped to the
maximum TRQ allocation permissible per annum) under HS code 7113. v. Such Jewellery
manufacturer should have a GST number and should have filed GST returns up to
the applicable preceding GST return filing period. vi. Financial statements containing annual turnovers of the eligible
applicant should be duly certified/audited by a Chartered Accountant, on the basis
of the jewellers GST declarations. |
<<Deleted>> |
[Issued from file No. 01/89/180/01/AM-22/PC-2[B]/E-31419]