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The DGFT amended import policy for precious metals under ITC(HS) Chapter 71, effective June 2025. Six tariff codes covering palladium, rhodium, and iridium in unwrought/powder form and other forms maintain "Free" import status. However, new restrictions apply to alloys of these metals containing gold exceeding one percent by weight, which are now classified as "Restricted" imports. The amendment was issued under Section 3 read with Section 5 of the Foreign Trade (Development & Regulation) Act, 1992, and Foreign Trade Policy 2023. CBIC instructed all customs commissioners to implement these changes immediately, focusing on the gold content threshold for determining restricted status of precious metal alloys.
The DGFT amended import policy for precious metals under ITC(HS) Chapter 71, effective June 2025. Six tariff codes covering palladium, rhodium, and iridium in unwrought/powder form and other forms maintain "Free" import status. However, new restrictions apply to alloys of these metals containing gold exceeding one percent by weight, which are now classified as "Restricted" imports. The amendment was issued under Section 3 read with Section 5 of the Foreign Trade (Development & Regulation) Act, 1992, and Foreign Trade Policy 2023. CBIC instructed all customs commissioners to implement these changes immediately, focusing on the gold content threshold for determining restricted status of precious metal alloys.
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