TaxTMI 
TaxTMI 
TaxTMI 
Vide notification no. 42/2017 Cus dated 30.6.2017, various notifications proposed to be amended to make consequential changes to replace erstwhile CVD to IGST.
Sr. no. 3 of this notification amends notification no. 172/1994, dated the 30th September, 1994.
But, the notification no. 172/1994-Customs dated 30.9.2017 was superseded vide Notification No. 3/2012-Customs, dated 16.1.2012.
Further, the superseding notification no. 3/2012-Customs was rescinded videNotification No.22/2012-Customs, dated 17.03.2012
These notifications were to provide Exemption / Prescribes rate of custom duty on Import of Gold & Silver by an eligible Passenger.
Effective rate of duty of Customs on import of Gold / silver by an eligible passenger were incorporated in the Mega ExemptionNotification no. 12/2012 Customs dated 17.3.2012 and now under notification no. 50/2017-Customs dated 30-6-2017 (w.e.f. 1.7.2017), as amended from time to time.
Therefore:
It is beyond any imagination that where notification no.172/1994, dated the 30th September, 1994 is no more, what purpose would be achieved by amending the non-existing notification.
We hope government may issue some corrigendum or clarification in this regard in due course.
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