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of <h1>New Circular Allows Authorized Agencies to Import Gold and Silver Without Surrendering Special Import Licence.</h1> The circular dated November 4, 1997, issued by the Director General of Foreign Trade, addresses the import of gold and silver under a Customs notification from October 21, 1997. It modifies a previous notice, allowing nominated and authorized agencies by the Reserve Bank of India and the Ministry of Finance to import these metals. These agencies can pay customs duties in Indian Rupees without surrendering a Special Import Licence (SIL), while other importers must surrender SIL to do so. The Department of Revenue will notify applicable customs duties as needed. This notice is issued in the public interest.
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