India’s DGFT restricts imports of specified semi-manufactured silver bars
→Silver-bar importers must clear covered shipments under restricted-policy conditions
Change
India’s DGFT changed the import policy for silver bars under ITC(HS) 71069221 and 71069229 from Free to Restricted with immediate effect.
Why it matters
The notification removes automatic free-import treatment for the covered silver-bar categories. Importers and customs brokers must apply the restricted-policy condition before clearance instead of treating these consignments as freely importable.
Implications
- → Silver importers must classify covered bars under ITC(HS) 71069221 or 71069229 before shipment or clearance, because the free-import assumption no longer applies.
- → Customs brokers and EXIM teams must apply Policy Condition No. 7 of Chapter 71 to covered silver-bar consignments with immediate effect.
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Source
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