DGFT notified Amendment in Policy Condition of Silver

The Directorate General of Foreign Trade (DGFT) has notified Amendment in the Policy Condition of Silver covered under Chapter 71 of Schedule – 1 (Import Policy) of ITC (HS) 2022 via issuing a Notification.

The Notification read as follows:

In the exercise of powers conferred by Section 3 and Section 5 of the Foreign Trade (Development and Regulation) Act, 1992, read with paragraphs 1.02 and 2.01 of the Foreign Trade Policy 2023, as amended from time to time, the Central Government hereby makes the following amendments under Chapter 71 of Schedule-1 (Import Policy) of ITC(HS) 2022:

1. Policy Condition no. 05 of the Chapter 71 is introduced as under:

i. Import of Semi-Manufactured Silver Paste, Sheets, Plates, Strips, Tubes, Electrodes, Wires, Silver Brazing Alloys(in any form), by Electrical, Electronics and Engineering industries including Glass and Solar Industries as input for their own manufacturing process on ‘Actual User’ Basis shall be ‘Free’.

ii. Import items mentioned at serial (i) above for Research and Development purposes by Government or Government Recognised Research Institutions shall also be ‘Free’.

iii. Import for other purposes is permitted through Nominated Agencies as notified by RBI (in the case of banks) and DGFT (for other agencies).

2. The Import Policy condition for the following ITC(HS) Codes is amended as under:

Effect of the notification: Import of Semi-Manufactured Silver Paste, Sheets, Plates, Strips, Tubes, Electrodes, Wires, Silver Brazing Alloys(in any form), by Electrical, Electronics and Engineering industries including Glass and Solar Industries as input for their own manufacturing process on ‘Actual User’ basis shall be ‘Free’. Import of given items for R&D purposes by Government or Government Recognised Institutions shall also be ‘Free’. Import for any other purposes shall be through specified agencies as per the earlier provisions.

For Official Notification Download PDF Given Below: