Monetary

Monetary gold, unwrought or semi-manufactured forms

DGFT CLEARANCE

HSN 7108 20 00 (Monetary gold) is classified as Restricted under the ITC (HS) import policy administered by the Directorate General of Foreign Trade (DGFT), and import is permitted only by nominated agencies notified by the Reserve Bank of India (for banks) or DGFT (for others). Gold in any form above 22 carats falls within this restricted regime per DGFT Notification 22/2015-20 dated 02-09-2021. A Tariff Rate Quota mechanism under the India-UAE Comprehensive Economic Partnership Agreement applies to imports under Tariff Head 7108.

What this is

HSN code

7108 20 00

Chapter

71 · Natural or cultured pearls, precious or semi-precious stones, precious metals, metals clad with precious metal, and articles thereof

Primary regulator

DGFT · ITC (HS) Restricted import policy, Chapter 71 — nominated-agency regime

Customs documentation

Nominated-agency authorisation from DGFT or RBI
TRQ allocation certificate from DGFT
ITC (HS) policy compliance declaration

Compliance steps

1
Confirm that the importing entity is a nominated agency: banks must be notified by the Reserve Bank of India, and all other importers must hold a DGFT nomination. Gold in any form above 22 carats is included in this restriction, and import by any non-nominated entity renders the consignment liable to confiscation. Verify the current authorised-bank list under DGFT Public Notice 40/2025-26 dated 19-12-2025 (Appendix 4B of HBP 2023), which lists RBI-authorised banks for FY 2025-26 with effect from 01-04-2025 to 31-03-2026.
DGFT Notification 22/2015-20 dated 02-09-2021 · DGFT Public Notice 40/2025-26 dated 19-12-2025
2
Where importing under the India-UAE Comprehensive Economic Partnership Agreement Tariff Rate Quota for Tariff Head 7108, apply for TRQ allocation within the application window notified by DGFT and comply with the procedure laid down in the applicable DGFT Public Notice. Ensure compliance with DGFT Public Notice 31/2025-26 dated 29-10-2025 as the current operative procedural instrument.
DGFT Public Notice 12/2023 dated 28-04-2023 · DGFT Public Notice 31/2025-26 dated 29-10-2025

A word of counsel

The single most common error on this tariff line is an importer assuming that a historic RBI or DGFT nomination carries forward indefinitely: the authorised-bank list is reissued annually for each financial year, and an authorisation valid through 31 March 2025 does not extend to the FY 2025-26 window. SBER Bank's authorisation, additionally, is restricted to domestic consumption only and runs only from 25-06-2025 — consignments intended for re-export or onward transfer will not qualify under that specific authorisation.

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Frequently asked

Does HSN 7108 20 00 require BIS certification?

No, monetary gold is not within the BIS Quality Control Order regime; no BIS QCO covers this product family. Import is governed by the ITC (HS) Restricted-import policy administered by the Directorate General of Foreign Trade, with import permitted only through RBI-notified banks or DGFT-nominated agencies per DGFT Notification 22/2015-20.

Which banks are currently authorised to import gold under this tariff line for FY 2025-26?

DGFT Public Notice 40/2025-26 dated 19-12-2025 lists the RBI-authorised banks for FY 2025-26 (01-04-2025 to 31-03-2026), including Indian Overseas Bank, Union Bank of India, and SBER Bank — the last-named being restricted to imports for domestic consumption only, effective 25-06-2025.

How does the India-UAE CEPA Tariff Rate Quota apply to this HSN?

New TRQ applications for imports under Tariff Head 7108 under the India-UAE CEPA are invited within windows notified by DGFT; the procedure is governed by DGFT Public Notice 12/2023 dated 28-04-2023 and subsequent amendments, and applicants must follow the procedure in paragraphs 2 to 5 as amended.

Last verified against gazette notifications: 2026-05-16. Source: DGFT / Indian Customs CUSDATA.