| Date: |
21-10-1997
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| Notification No: |
CUSTOMS Notification No 80/1997
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| Issuing Authority: |
Indian Customs
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| Type: |
Tariff
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| File No: |
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| Subject: |
Gold, Silver import through authorised agencies by R.B.I
|
Gold, Silver import through authorised agencies by R.B.I
Notification No. 80 dated 21st
October 1997 (As
amended by notification nos. 4/98-Customs dated 24th February 1998,
28/98-Customs dated 2nd June 1998; 2/99-Customs dated 4th
January 1999,20/ 2001 dated 01.03.2001,
Notification No. 28 dated 1st March 2003)
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 by the Minerals and Metals Trading Corporation
of India Limited, the Handicraft and Handloom Export Corporation, the State
Trading Corporation, the PEC Limited or any other agency authorised by the
Reserve Bank of India, for sale in the domestic market, 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.
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S. No.
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Description of goods
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Rate
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(1)
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(2)
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(3)
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1.
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Gold bars, other than tola bars,
bearing manufacturer�s or refiner�s engraved serial number and weight
expressed in metric units, and gold coins
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Rs. 100 per 10 gms.
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2.
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Gold in any form other than at
S.No. 1 above including tola bars and ornaments, but excluding ornaments
studded with stones or pearls
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Rs. 250 per 10 gms.
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3.
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Silver in any form
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Rs. 500 per kg.
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Explanation:For the purpose of this
notification, the expressions �Gold in any form including liquid gold� and
�Silver in any form� shall include medallions and coins, but shall not include
jewellery made of gold or silver and foreign currency coins.
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