Export Against Supply by Foreign Buyer- Clarification Regarding the Amount of Bank Guarantee to be Furnished under the Scheme

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..... ply by Foreign Buyer- Clarification Regarding the Amount of Bank Guarantee to be Furnished under the Scheme. I am directed to invite your attention to notification No.56/2000-Cus, dated 5.5.2000, which allows nominated agencies and status holder exporters etc. to import gold/silver/ platinum etc. without payment of duty under the scheme: "Export Against Supply by Foreign Buyer" for the purpos .....

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..... funds. The Council has, therefore, requested that the bank guarantee should be worked out taking the duty on gold at the rate of Rs.250/- per 10gms i.e the rate of duty as applicable to nominated agencies under notification No.80/97-Cus. dated 21.10.97. 3. The matter has been examined. At present, the nominated agencies and authorised banks are allowed to import gold on payment of duty @ Rs.250/ .....

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