Gold etc. import procedure for MMTC/STC/SBI/HHEC for exporters

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..... the EXIM Policy read with the various relevant customs exemption notification (Nos. 177/ 94-Cus, 3/ 88- Cus, 277/ 90-Cus, 144/ 93-Cus and Circular No. 38/ 96 dated 9.7.96), MMTC/ SBI/ STC/ HHEC and any agency authorised by Reserve Bank of India (hereinafter referred to as the Nominated Agency) are authorised to import precious metals and supply in advance on outright purchase or loan basis or as r .....

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..... up such warehouses, wherein the imported gold would be kept by the nominated agency. In case of SBI or other banks nominated by RBI, they may be allowed to utilise its own vaults in lieu of opening separate private bonded ware house subject to the observance of the Board's existing instruction on setting up such warehouses wherein the imported gold would be kept by the nominated agency. (b) Gol .....

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..... r making physical delivery thereof to the ex-porters against duly addressed Bill of Entry on which ex-bond clearance has been allowed by a proper Officer and for rendering to customs a complete account of gold/ silver/ platinum received and kept by them in bond. In their capacity as a bonder they will also maintain the prescribed records, including the name, address and other specified details fro .....

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..... old from the units, the exporters shall be held responsible. The bond officers for EOU/ EPZ units shall remain alert and make periodic surprise check of the stock of metal in the unit. (g) The record regarding execution of bond and submission of the bank guarantees by the intending exporters, as prescribed, shall be maintained by the Assistant Commissioner of Customs in the same way as is requir .....

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..... f exporters who have received duty free clearance of gold should be carefully watched. The Commissionerates should devise an affidavit monitoring system to ensure that no bond/ guarantees lapses for want of action and no defaulter is allowed to draw any further gold.3. The above said procedures may be brought into effect immediately, and the trade be informed suitably. 4. This supersedes instruc .....

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