Page 17 - Bullion World Volume 5 Issue 06 June 2025

Bullion World | Volume 5 | Issue 06 | June 2025

Silver (HSN Heading 7106) Gold (HSN Heading 7108)

71069120 – Unwrought silver containing 99.90% or 71081210 – Unwrought gold (other forms) containing
more by weight of silver. Its import policy is Restricted. 99.50% or more by weight of gold. Its import policy
Import is allowed through Nominated Agencies as is Restricted. Import is allowed through Nominated
notified by RBI ( for Banks) and DGFT ( for other Agencies as notified by RBI ( for Banks) and DGFT ( for
agencies) and Qualified Jewellers,( as notified by other agencies) and Qualified Jewellers ( as notified by
IFSCA for import through IIBX) IFSCA for import through IIBX). Import is also allowed
to valid TRQ holders as notified by IFSCA for import
71069221 – Semi-manufactured silver bars containing through IIBX and they can take physical delivery of
99.90% or more by weight of silver. Its import policy is Gold through IFSCA registered vaults located in the
Free but subject to RBI regulations. SEZs as per guidelines of IFSCA.

71069229 – Semi-manufactured silver (other), i.e., 71081290 – Unwrought gold (other forms) containing
containing less than 99.90% silver by weight. Its import less than 99.50% by weight of gold. (This covers Gold
policy is Free but subject to RBI regulations. Dore with ≤95% gold content also.)

Note : The earlier HSN Code of Silver 71069220 has Its import policy is also Restricted. Import is allowed
been deleted. through Nominated Agencies as notified by RBI ( for
Banks) and DGFT ( for other agencies) and Qualified
Jewellers ( as notified by IFSCA for import through
Platinum (HSN Heading 7110) IIBX). Import is also allowed to valid TRQ holders as
notified by IFSCA for import through IIBX and they
• 71101111 – Platinum in unwrought form containing can take physical delivery of Gold through IFSCA
99.00% or more platinum by weight. Its import registered vaults located in the SEZs as per guidelines
policy is Free. of IFSCA.
• 71101119 – Other unwrought platinum (i.e.,
containing less than 99.00% platinum). Its import Gold Dore can be imported by the refineries against an
policy is Restricted. import license with Actual User ( AU) condition.
• 71101121 – Platinum in powder form containing
99.00% or more platinum by weight. Its import 71081310 – Semi-manufactured gold containing
policy is Free. 99.50% or more gold by weight. Its import policy
• 71101129 – Other platinum powder (i.e., is Restricted. Import is allowed through Nominated
containing less than 99.00% platinum). Its import Agencies as notified by RBI ( for Banks) and DGFT
policy is Restricted. ( for other agencies)
• 71101910 – Platinum (other than unwrought
or powder forms) containing 99.00% or more 71081390 – Semi-manufactured gold containing
platinum by weight. Its import policy is Free. less than 99.50% gold by weight. Its import policy
• 71101990 – Platinum (other than unwrought is Restricted. Import is allowed through Nominated
or powder forms) containing less than 99.00% Agencies as notified by RBI ( for Banks) and DGFT
platinum. Its import policy is Restricted. ( for other agencies)

(Note: The earliest HSN Codes of platinum 71101110, (Note : The earlier HSN Codes of gold 71081200 and
71101120 and 71101900 have been deleted) 71081300 have been deleted.)

Conclusion:
The introduction of these new HSN codes provides much-needed clarity and will help streamline customs classification,
data reporting, and policy enforcement for the precious metals sector. These changes are expected to eliminate past
ambiguities and align trade documentation with the distinct import policies for each form and purity level of gold, silver,
and platinum.
Sources: DGFT Notification No. 8/2025 dated 19/5/2025 and Finance Bill 2025 of the Union Budget for FY 2025–26
(announced on February 1, 2025)

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