CUS NTF NO. 172/1994 DATE 30/09/1994
Silver when imported by a passenger
In exercise of the powers conferred by sub-section (1) of section 25 of the Customs
Act, 1962 (52 of 1962), and in supersession of the notification of the Government of
India in the Ministry of Finance (Department of Revenue)
No. 4/93-Customs, dated the 8th February, 1993, the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts silver, in any form including ornaments (but excluding ornaments studded with stones or pearls), when imported into India by an eligible passenger, from so much of the duty of customs leviable thereon which is specified in the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), as is in excess of the amount calculated at the rate of Rs. 1000 per kilogram
[OLDat the rate of Rs. 500 per kilogram
] and the whole of
the additional duty leviable thereon under section 3 of the Customs Tariff Act, 1975
(51 of 1975), subject to the following conditions, namely :-
(Amended vide CUS NTF NO. 78/2009 DATE 07/07/2009)
- the duty at the rate specified above shall be paid in convertible foreign
currency;
- the quantity of such silver shall not exceed one hundred kilograms per
eligible passenger; and
- the silver is either carried by the eligible passenger at the time of his
arrival in India or is imported by him within fifteen days of his arrival in India.
2. Notwithstanding anything contained in paragraph 1, the exemption under this
notification shall also apply to 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 Limited, subject to the conditions (a) and (b) of paragraph 1 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 silver from such a customs
bonded warehouse and pays the duty leviable thereon before his clearance from customs.
EXPLANATION. - For the purpose of this notification, "eligible passenger"
means a passenger of Indian origin or a passenger holding a valid passport, issued under the
Passports Act, 1967 (15 of 1967), who is coming to India after a period of not less
than six months of stay abroad; and short visits, if any, made by the eligible
passenger during the aforesaid period of six months shall be ignored if the total
duration of stay on such visits does not exceed thirty days and such passenger has not
availed of the exemption under this notification at any time of such short visits.
3. This notification shall come into force on the 1st day of November, 1994.
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