Silver in any form (excluding ornaments studded with stones or pearls) falling under Heading No. 98.03 imported as baggage - 04/93 - Customs -Tariff

Superseded vide Notification No. 172/94-Customs, Dated 30/09/1994 Silver in any form (excluding ornaments studded with stones or pearls) falling under Heading No. 98.03 imported as baggage Notification No. 4/93-Cus. Dated 8-2-1993 In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts silver, in any form including ornaments (but excluding ornaments studded with stones or pearls), falling under Heading No. 98.03 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India by a passenger of Indian origin or a passenger holding a valid passport issued under the Passports Act, 1967 (15 of 1967), as baggage, from so much of the duty of customs leviable thereon which is specified in the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), as is in excess of the amount calculated at the rate of Rs. 500 per kilogram : Provided that,- (i) such passenger is coming to India after a period of not less than six months of stay abroad; and (ii) the duty at the rate specified above shall be paid in convertible foreign currency: Provided further that the exemption contained in this notification shall apply only to a quantity of such silver not exceeding one hundred kilograms per passenger. Explanation. - For the purpose of this Notification, short visits, if any, made by the passenger referred to above, during the aforesaid period of 6 months, shall be ignored if the total duration of stay on such short visit does not exceed 30 days and the said passenger has not availed of the exemption under this Notification at the time of such short visits. 2. This Notification shall come into force on 9th day of February, 1993.