TMI BlogPrescribes rate of custom duty on Import of Gold & Silver by an eligible Passenger.X X X X Extracts X X X X X X X X Extracts X X X X ..... f Finance ( Department of Revenue) No. 172/1994-Customs , dated the 30th September, 1994, published in the Gazette of India, Extraordinary vide, G.S.R. No. 734(E), dated the 30th September, 1994,and notification No.31/2003-Customs , dated the 1st March, 2003,published in the Gazette of India, Extraordinary vide, G.S.R. No. 166(E), dated the 1st March, 2003, except as respects things done or omitted to be done before such supersession, the Central Government on being satisfied that it is necessary in the public interest so to do, hereby exempts goods of the description specified in column (2) of the Table below and falling under Chapter 71 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) , when imported into India by an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dia or is imported by him within fifteen days of his arrival in India. Notwithstanding anything contained above, the exemption under this notification shall also apply to gold or silver taken delivery of by an eligible passenger from a customs bonded warehouse of the State Bank of India or the Minerals and Metals Trading Corporation Ltd., subject to the conditions (i) and (ii) of para 2 above, and subject to further condition that such eligible passenger files a declaration in the prescribed form before the proper officer of customs at the time of his arrival in India declaring his intention to take delivery of the gold or silver from such a customs bonded warehouse and pays the duty leviable thereon before his clearance from customs. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... <![endif]--><!--[if gte mso 10]> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... S.R. No. 734(E), dated the 30th September, 1994,and notification No.31/2003-Customs , dated the 1st March, 2003,published in the Gazette of India, Extraordinary vide, G.S.R. No. 166(E), dated the 1st March, 2003, except as respects things done or omitted to be done before such supersession, the Central Government on being satisfied that it is necessary in the public interest so to do, hereby exempts goods of the description specified in column (2) of the Table below and falling under Chapter 71 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) , when imported into India by an eligible passenger, from so much of the duty of customs leviable thereon which is specified in the said First Schedule, as is in excess of the amoun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shall also apply to gold or silver taken delivery of by an eligible passenger from a customs bonded warehouse of the State Bank of India or the Minerals and Metals Trading Corporation Ltd., subject to the conditions (i) and (ii) of para 2 above, and subject to further condition that such eligible passenger files a declaration in the prescribed form before the proper officer of customs at the time of his arrival in India declaring his intention to take delivery of the gold or silver from such a customs bonded warehouse and pays the duty leviable thereon before his clearance from customs. Explanation.- For the purposes of this notification, eligible passenger means a passenger of Indian origin or a passenger holding a valid passport, i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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