TMI BlogCustom duty and whole of the additional duty exemptions to gold/silver/platinum, alloys, findings and mountings and plain semi-finished gold/silver/platinum jewellery when imported into India by nominated agencies, status holders.X X X X Extracts X X X X X X X X Extracts X X X X ..... (E) dated the 28th June, 1993] in so far as it relates to import of silver or gold under the Scheme for export of Gold/Silver jewellery and articles against Gold and Silver supplied by the foreign buyer except as respects things done or omitted to be done before such supersession, the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts gold/silver/platinum, alloys, findings and mountings of gold/silver/platinum and plain semi-finished gold/silver/platinum jewellery ( hereinafter referred to as 'the said goods') falling within Chapter 71 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India by nominated agencies, status holders, or exporte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rt by status holders or exporters of three years standing having an annual average turnover of five crore rupees during the preceding three licensing years, the importer executes a bond in such form and for such sum as may be specified by the Assistant Commissioner of Customs or Deputy Commissioner of Customs, and furnishes a bank guarantee for a sum equivalent to one and half times of the Customs duty leviable on the said goods imported, undertaking himself to export gold/silver/platinum jewellery or articles, as the case may be, including studded articles having gold/silver/platinum content equivalent to the imported gold/silver/platinum within 5 [90 days] from the date of import and to fulfill the conditions of Foreign Trade Policy an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ok of Procedures, 2023 notified by the Government of India in the Ministry of Commerce and Industry published in the Gazette of India, Extraordinary, Part-I, Section-I vide Public Notice No 1/2023, dated the 1st April, 2023. ] (c) Nominated Agencies means the Metals Minerals Trading Corporation Limited (MMTC), the Handicraft and Handloom Export Corporation (HHEC), the State Trading Corporation (STC), the Project and Equipment Corporation of India Ltd.(PEC) and any agency authorised by the Reserve Bank of India (RBI); 2 [(d) Status holder means importer recognised as One Star Export House, Two Star Export House, Three Star Export House, Four Star Export House, or as the case may be, Five Star Export House, in terms of the For ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7 , 1st day of July, 2017 , before it was read as. under section 3 4. Substituted vide Notification No. 90/2017 - Dated 27-11-2017, before it was read as, paragraph 4A.8 5. Substituted vide Notification No. 90/2017 - Dated 27-11-2017, before it was read as, 120 days 6. Inserted vide Notification No. 24/2020 - Customs dated 21-05-2020 7. Inserted vide NOTIFICATION NO. 47/2022-Customs dated 07-09-2022 8. Substituted vide Notification No. 28/2023 Customs, dated 01.04.2023 , before it was read as, 4 [paragraph 4.45] 9. Substituted vide Notification No. 28/2023 Customs, dated 01.04.2023 , before it was read as, 1 [(a) Foreign Trade Policy means Foreign Trade Policy, 2015 - 2020 notified ..... X X X X Extracts X X X X X X X X Extracts X X X X
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