MANU/APDR/0011/2022

Ministry : Reserve Bank of India

Department/Board : Financial Markets Regulation Department

Circular No. : A. P. (DIR Series) Circular No. 04
                  RBI/2022-2023/57

Date : 25.05.2022

Notification/ Circulars Referred : Notification No. 49/2015-2020 dated January 5, 2022 MANU/DGFT/0001/2022

Citing Reference:
Notification No. 49/2015-2020 dated January 5, 2022 MANU/DGFT/0001/2022  Referred

To

All Category-I Authorised Dealer Banks

Madam/Sir,

Guidelines on import of gold by Qualified Jewellers as notified by The International Financial Services Centers Authority (IFSCA)

1. Directorate General of Foreign Trade (DGFT) formulate and implement the Foreign Trade Policy and Procedures in terms of Foreign Trade (Development and Regulation) Act, 1992, (FTDR Act 1992, hereinafter) as amended from time to time. In exercise of powers conferred by Section 3 read with Section 5 of FTDR Act 1992, read with paragraph 1.02 and 2.01 of the Foreign Trade Policy, 2015-2020, as amended from time to time, the Central Government has amended the import policy conditions for gold in any form, other than monetary gold and silver in any form under Chapter 71 of ITC (HS), 2017, Schedule- I (Import Policy) vide Notification No. 49/2015-2020 dated January 5, 2022.

2. Attention of Authorised Dealer Category - I (AD) bank is invited to (a) Notification No. 49/2015-2020 dated January 5, 2022, in terms of which, in addition to nominated agencies as notified by RBI (in case of banks) and nominated agencies as notified by DGFT, Qualified Jewellers (QJ) as notified by International Financial Services Centers Authority (IFSCA) will be permitted to import gold under specific ITC(HS) Codes through India International Bullion Exchange IFSC Ltd. (IIBX); (b) Master Direction - Import of Goods and Services and the AP D........