DGFT Amends Import Policy for Precious Metal Alloys Containing Gold

“Indirect Tax I Indirect Tax Litigation I Customs & FTP I Central Licensing I Arbitration I Advisory”

Dated: 26.06.2025

DGFT Amends Import Policy for Precious Metal Alloys Containing Gold

The Directorate General of Foreign Trade (DGFT) issued a Corrigendum dated 25th June 2025 to its earlier Notification No. 18/2025-26 dated 17th June 2025. This corrigendum pertains to amendments in the Import Policy conditions under Chapter 71 of ITC (HS) 2022, specifically concerning precious metal alloys—Iridium, Osmium, and Ruthenium.

The revisions clarify and expand the scope of import restrictions on these metals when alloyed with gold.

Legal Authority

The corrigendum is issued under:

Section 3 and Section 5 of the Foreign Trade (Development & Regulation) Act, 1992
Para 1.02 and 2.01 of the Foreign Trade Policy (FTP) 2023, as amended

Revised Import Policy: What’s Changed?

The corrigendum replaces the existing import conditions for the following HS codes:

ITC(HS) Code	Item Description	Earlier Policy Condition	Revised Policy Condition
7110 41 00	Iridium, Osmium and Ruthenium – Unwrought or Powder Form	Import of Iridium alloy consisting of gold more than 1% by weight is Restricted	Import of Iridium alloy, Osmium alloy, and Ruthenium alloy consisting of gold more than 1% by weight is Restricted
7110 49 00	Iridium, Osmium and Ruthenium – Other	Import of Iridium alloy consisting of gold more than 1% by weight is Restricted	Import of Iridium alloy, Osmium alloy, and Ruthenium alloy consisting of gold more than 1% by weight is Restricted

Implications for Importers and Stakeholders

Broader Restriction Scope: Previously, the restriction was limited to Iridium alloys containing gold. The corrigendum now includes Osmium and Ruthenium alloys as well.
Targeting High-Value Gold Content: The restriction is applicable only when gold content exceeds 1% by weight, indicating the focus is on controlling precious metal movement in gold-heavy alloys which may have smuggling or valuation implications.
Compliance and Licensing Requirements: Importers dealing with these alloys must now seek Restricted Item import authorization if the alloy meets the gold content threshold. Non-compliance may attract penal provisions under the FTP.

Why This Matters

The amendment strengthens India’s precious metals import regime in line with its efforts to:

Prevent misuse of alloy-based imports for concealed gold inflow.
Ensure accurate valuation and duty collection at customs.
Maintain data integrity in trade monitoring of high-value materials.

Conclusion

Stakeholders engaged in the import of precious metal alloys should immediately assess their current and planned shipments against this revised condition. Customs brokers, compliance officers, and import licensing consultants should update internal SOPs to ensure conformity with the revised import policy.

Listen to this on our #YouTube Channel

In case you face any issues related to Indirect Tax-Customs, GST, Foreign Trade Policy (FTP), Arbitration matters and Central Licensing and related advisory matters in India then please feel free to get in touch with SJ EXIM Services.

We offer Legal advice and litigation support in matters related to Indirect Tax-Customs, FTP, other Indirect Tax matters & Arbitration law, all sorts of Central licensing and related matters. Come and explore the new way of doing business with us!

Source: DGFT

Disclaimer

Handy Download:

DGFT Corrigendum to Notification Download

Connect with us for more-

@ Team S J EXIM SERVICES, New Delhi, IN

CP: Ms. Shubhra Jha, Founder

Tel: +91-11-4999 2707 I +91-9999005693

Web: www.sjexim.services

EMAIL: operations@sjexim.services I shubhra@sjexim.services

Facebook: www.facebook.com/sjeximservices

LinkedIn: https://www.linkedin.com/company/90794255/admin/feed/posts/