CUS NTF NO. 62/2004 DATE 12/05/2004
Cus. Duty on Gold Bars etc.G.S.R. (E)-In exercise of the power conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue),
No. 80/1997-Customs, dated the 21st October, 1997, published in the the Gazette of India, Extraordinary vide, G.S.R. No. 610(E), dated the 21st October, 1997, hereby exempts goods of the description specified in column (2) of the Table hereto annexed and falling within Chapter 71 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India, other than through post, courier or baggage, from so much of the duty of customs leviable thereon which is specified in the said First Schedule as is in excess of the amount calculated at the rate specified in the corresponding entry in column (3) of the said Table and from the whole of the additional duty of customs leviable thereon under section 3 of the said Customs Tariff Act.
Table| S. No. | Description of goods | Rate |
|---|
| (1) | (2) | (3) |
|---|
| 1. | Gold bars, other than tola bars, bearing Manufacturer’s or refiner’s engraved serial number and weight expressed in metric units, and gold coins | Rs. 200 per 10 gms [OLD Rs. 100 per 10 gms] |
| 2. | Gold in any form (other than those specified, against S. No. 1, in this column), including liquid gold and tola bars | Rs. 500 per 10 gms [OLDRs. 250 per 10 gms.] |
| 3. | Silver in any form | Rs. 1000 per kg [OLDRs. 500 per kg.] |
(Entry in the table has been substitued vide CUS NTF NO. 78/2009 DATE 07/07/2009)Explanation.- For the purpose of this notification, the expression `Gold in any form’ or `Silver in any form’ shall include medallions and coins, but shall not include jewellery made of gold or silver, as the case may be, and foreign currency coins.
Sd/-
(V. Kezo)
Under Secretary to the Government of India
[F. No. 528/18/04-CUS (TU)](Please refer
CUS CIR NO. 13/2006 DATE 29/03/2006)
(Corrected vide CORRIGENDUM DATE 07/01/2005)(Please refer
CUS CIR NO. 40/2004 DATE 04/06/2004)
Presented by eximkey.com