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2019 (5) TMI 82 - AT - CustomsImport of restricted item - Gold Granules of Purity 99.99% (Non-Monetary) - It is the case of the Revenue that import of Gold Granules is permitted only through a Nominated Bank or a Nominated Agency, or a Holder of Status of Star and Premier Trading Houses, subject to RBI Regulation and procedure prescribed in this regard - HELD THAT:- As per the RBI regulations, it is only the Nominated Bank and Nominated Agency as notified by DGFT which is permitted to import the said goods - Since the appellant is not a Nominated Bank or a Nominated Agency or a Holder of Status of Star and Premier Trading Houses, the restriction procedures and clarifications issued by the RBI relating to import of Gold/Gold Granules do not entitle the payment to import the Gold Granules in question. Further, it is not in dispute that the Gold Medallion of Purity 999.9 fall under CTH 71141910 of CETA 1975 and as per the Import Policy, the ‘Articles of Gold’ are classifiable under CTH 71141910 and are freely importable and there is no restriction, Gold Medallion fall within the definition of ‘Articles of Gold’. Further, the appellants have imported the Gold Medallion which is classified as ‘Articles of Gold’ from Korea and vide Notification No. 152/2009 dated 31.12.2009 the BCD leviable on the import of ‘Articles of Gold’ from Korea falling under Chapter 71141910 is Nil. Further, CBEC Circular No. 27/2016-Cus. dated 10.06.2016 relied upon by both the authorities is not applicable in the facts and the circumstances of this case because the appellant is not a Nominated Agency but it is only an individual importer who has imported gold against advance payment or Letter of Credit (not exceeding 90 days) for Home consumption, wholesale and retail sales. Further, the Master Direction issued by the RBI is also not applicable in the present case because that instruction of the RBI only applies to Nominated Banks and Nominated Agencies as notified by DGFT. Further, I also note that in the present case, the importer has not imported gold on consignment basis and therefore, the conditions laid down by the RBI is not applicable to the appellant. Appeal allowed - decided in favor of appellant.
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