(This Notification has been rescinded vide CUS NTF NO. 104/2003 DATE 10/07/2003)
CUS NTF NO. 117/1994 DATE 27/04/1994
Special Import Licence - Gold and Silver
In exercise of the powers 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, 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, 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 leviable thereon under section 3 of the said Customs Tariff Act,
subject to the condition that the said goods are covered by a Special Import Licence issued in
terms of the Export and Import Policy 1st April 1992 - 31st March 1997 of the Government of
India in the Ministry of Commerce :
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. 100 per 10 gms. |
| 2. | Gold in any form other than at S.No.1 above, including tola bars and ornaments, but excluding ornaments studded with stones or pearls | Rs. 250 per 10 gms. |
| 3. | Silver in any form | Rs. 500 per kg |
(Table has been substituted vide CUS NTF NO. 28/2003 DATE 01/03/2003)
[OLD TABLE
| S.No. | Description | Rate |
| (1) | (2) | (3) |
| 1. | Gold in any form including liquid gold | Rs. 250 per 10 grams |
| 2. | Silver | Rs. 500 per kilogram] |
Explanation - For the purpose of this notification, the expressions "Gold" in any form including liquid gold and silver in any form include medallions, coins and jewellery made of gold or silver, as the case may be (except the foreign currency coins and jewellery studded with stones or pearls).
As amended by Notifications No. 156/95-Cus., dated 1-11-1995,
No. 33/97-Cus., dated 1-4-1997;
No. 79/97-Cus., dated 21-10-1997;
No. 28/98-Cus., dated 2-6-1998 ,
No. 2/99-Cus., dated 4-1-1999. and
No. 20/2001-Cus, dated 01-03-2001.
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