Amendment in sync with the Finance Act 2025 – Notification No. 08

Amendment in sync with the Finance Act 2025 – Notification No. 08

Amendment in Import Policy and Policy Conditions of specific ITC (HS) codes under Chapter 71 of Schedule —I (Import Policy) of ITC (HS) 2022 in sync with the Finance Act 2025 – Notification No. 08 /2025-26

S.O. (E) In exercise of powers conferred by Section 3 read with Section 5 of Foreign Trade (Development & Regulation) Act, 1992, read with paragraph 1.02 and 2.01 of the Foreign Trade Policy (FTP) 2023, as amended from time to time, the Central Government hereby amends the Import Policy and Policy Condition of specific ITC (HS) codes under Chapter 71 of Schedule —I (Import Policy) of ITC (HS) 2022 in sync with the Finance Act 2025 dated 29.03.2025, with immediate effect.

2. In Chapter 71, ITC (HS) 2022, Schedule—I (Import Policy), the details of the ITC(HS) codes that have been deleted and the Import Policy and Policy Conditions against the newly created ITC(HS) codes is notified as under:

ITC(HS) CodeItem DescriptionImport PolicyPolicy Condition
7106Silver (including silver plated with gold or platinum), unwrought or in semi manufactured forms, or in powder form.
710691Other :— Unwrought:
71069120Containing 99.9 per cent. or more by weight of silverRestrictedImport   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).
710692Other : — Semi-manufactured
71069220BarDeleted 
71069221Bar:                   Containing 99.9 percent or more by weight of silver FreeSubject to RBI Regulations.
71069229Bar—- OtherFreeSubject to RBI Regulations.
7108Gold (including gold plated with platinum) unwrought or in semi-manufactured forms, or in powder form.
710812— Other unwrought forms:
71081200-Non-monetary: Other unwrought forms –Deleted  
71081210—Containing 99.5 per cent. or more by weight of goldRestricted1. Import is allowed through: Nominated agencies as notified by RBI (in case of banks) or nominated agencies notified DGFT (for other agencies)Qualified Jewellers (as notified by IFSCA) through  India               International Bullion       Exchange
(IIBX); 2. Valid India-UAE TRQ holders as notified by IFSCA can import gold through IIBX against the TRQ and can obtain physical delivery of the same through IFSCA registered vaults located in SEZs as per the guidelines prescribed by the IFSCA.
71081290—OtherRestricted1. Import is allowed through: Nominated agencies as notified by RBI (in case of banks) or nominated agencies notified DGFT (for other agencies)Qualified Jewellers (as notified by IFSCA) through    India               International Bullion       Exchange
(IIBX) ; 2. Valid India-UAE TRQ holders as notified by IFSCA can import gold through IIBX against the TRQ and can obtain physical delivery of the same through IFSCA registered vaults located in SEZs as per the guidelines prescribed by the IFSCA. 3. Gold Dore can be imported by refineries against an import license with Actual User (AU) condition.
710813— Other semi-manufactured forms:
71081300– Non-monetary: Other semi-manufactured forms –Deleted  
71081310—Containing 99.5 per cent. or more by weight of goldRestrictedlmport is allowed only through nominated agencies as notified by RBI (in case of banks) and DGFT (for other agencies)
71081390— OtherRestrictedlmport is allowed only through nominated agencies as notified by RBI (in case of banks) and DGFT (for other agencies)
7110Platinum, unwrought or in semi manufactured forms, or in powder form.
711011Platinum: — Unwrought or in powder form
71101110— Unwrought formDeleted 
71101111—                  Unwrought        form  Containing 99.0 per cent or more by weight of platinum —Free
71101119—Unwrought form: — OtherRestricted- 
71101120—In powder formDeleted 
71101121—     In    powder       form:   — Containing 99.0 per cent. or more by weight of platinumFree
71101129—In powder form: — otherRestricted- 
711019—Other
71101900-Platinum : — OtherDeleted 
71101910— Containing 99.0 per cent.
or more by weight of platinum
Free
71101990—OtherRestricted- 

Effect of the Notification: The Import Policy of the ITC(HS) codes under Chapter 71 of ITC (HS) 2022, Schedule-I (Import Policy), newly created under the Finance Act, 2025 dated 29.03.2025, is notified with immediate effect.

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