The Director General of Foreign Trade vide notification dated 29th August, 2022 has revised the DGFT Handbook of Procedure 2015-2020. The revised policy states that the Tariff Rate Quota(TRQ) authorization for items under Tariff head 7108, shall also contain Importer Exporter Code (IEC) of the nominated agencies as notified by RBI (in case of banks) or DGFT (for other agencies) or qualified jewellers as notified by International Financial Services Centers Authority (IFSCA), GST Identification Number(GSTIN) of the jewellery manufacturer to whom TRQ is being issued.
Tariff head 7108 deals with Gold (including gold plated with platinum) unwrought or in semi- manufactured forms, or in powder form. The said TRQ importer shall follow the procedure set out in the Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017.
