The Directorate General of Foreign Trade (DGFT) on October 11, 2023, issued a notification regarding an amendment in the import policy condition of silver covered under Chapter-71 of Schedule-I (Import Policy) of ITC (HS), 2022
The following has been stated: -
•In addition to nominated agencies as notified by RBI (in the case of banks) and nominated agencies notified by DGFT, qualified jewellers as notified by the International Financial Services Centres Authority (IFSCA) will be permitted to import Silver under above mentioned specific ITC(HS) codes through India International Bullion Exchange IFSC Ltd(IIBX).
The detailed notification is given in the document attached below.
[Notification No.35/2023]
