Containing 99.9 percent or more by weight of silver
Unwrought silver of 99.9 percent or higher purity
HSN 7106 91 20 (unwrought silver of 99.9% or more purity) is Restricted under the ITC (HS) import policy administered by the Directorate General of Foreign Trade (DGFT), and import is permitted exclusively through nominated agencies notified by the Reserve Bank of India (for banks), DGFT (for other agencies), or qualified jewellers notified by the International Financial Services Centres Authority (IFSCA) for import through the India International Bullion Exchange (IIBX).
- Nominated agency authorisation from DGFT or RBI
- IIBX qualification certificate from IFSCA
- Import declaration to CBIC
- 1Confirm that the importing entity is a nominated agency authorised by the Reserve Bank of India (if a bank), by DGFT (if another agency), or is a qualified jeweller notified by IFSCA for IIBX-routed imports. Import by any entity outside these three categories is not permitted under the Restricted-import status.DGFT Notification 08/2025-26 dated 19-05-2025 · ITC (HS) Restricted import policy, Chapter 71
- 2File the bill of entry with the authorisation documentation establishing nominated-agency or IFSCA-qualified-jeweller status uploaded in e-Sanchit. Consignments without the requisite authorisation are liable to detention and re-export or confiscation under the Customs Act, 1962.DGFT Notification 08/2025-26 dated 19-05-2025
The most common error on this tariff line is assuming that any accredited bullion trader may import directly — the Restricted-import policy creates three closed channels (RBI-nominated banks, DGFT-nominated agencies, and IFSCA-qualified jewellers via IIBX), and imports outside these channels attract confiscation and monetary penalty regardless of the importer's domestic-market standing. Entities seeking IIBX access must obtain IFSCA qualification before the purchase order is placed, as post-arrival remediation is not available for channel violations.