Notification No. 25/2001 - Customs Dated 1-3-2001
G.S.R.(E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962(52 of 1962), read with sub-section (6) of section 3 and sub-section (1) of section 3A of the Customs TariffAct, 1975 ( 51 of 1975), and in supersession of the notification of the Government of India in the Ministry ofFinance (Department of Revenue), No. 138/99-Customs, dated the 30th December, 1999 Notification No.25/2001-Customs, CORRIGENDUM dt. the 1st March, 2001 published in theGazette of India vide number G. S. R. 836 (E), dated the 30th December, 1999, except as respects things done oromitted to be done before such superesssion, the Central Government, being satisfied that it is necessary in thepublic interest so to do, hereby exempts gold and silver falling under Chapter 71 of the First Schedule to thesaid Customs Tarrif Act, and produced out of copper anode slime, the said copper anode slime having beenexported out of India for toll smelting or toll processing, when imported into India,-

1. from so much of duty of customs leviable thereon which is specified in the said First Schedule,
2. from so much of additional duty leviable thereon under sub-section (1) of section 3 of the said Customs Tariff Act, and
3. from so much of special additional duty leviable thereon under sub-section (1) of section 3A of the said Customs Tariff Act,

as is in excess of the duties which would be leviable if the value of the said goods were equal to the aggregateof ­

1. the toll smelting or toll processing costs, as the case may be, that is to say, -
   1. labour charges,
   2. cost of material (other than the cost of the goods exported out of India) used in such toll smelting or toll processing, and
   3. any other charges which are payable in connection with the toll smelting or toll processing abroad ; and
2. the insurance and freight charges both ways,

subject to the following conditions, namely :-

1. the gold or silver, as the case may be, is imported within one year of the date of export of copper anode slime out of India; and
   
   
2. sufficient evidence is shown that the gold or silver, as the case may be, which is imported has in fact been obtained out of toll smelting or toll processing of the copper anode slime exported out of India.

Sd/-
(T. R. Rustagi)
Joint Secretary to the Government of India.

(F. No. 334/1/2001-TRU)

Presented by eximkey.com