Bank guarantee requirement for duty-free gold imports reduced to a fraction of gold value, easing securities for jewellery exporters. Bonds for duty-free supply of gold to gem and jewellery exporters from nominated agencies shall be secured by a bank guarantee of 5% of the value of the gold (and not of the bond amount). This amendment modifies the specified paragraphs of the earlier circulars with immediate effect and is to be publicised by issue of a suitable public notice.
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Provisions expressly mentioned in the judgment/order text.
Bank guarantee requirement for duty-free gold imports reduced to a fraction of gold value, easing securities for jewellery exporters.
Bonds for duty-free supply of gold to gem and jewellery exporters from nominated agencies shall be secured by a bank guarantee of 5% of the value of the gold (and not of the bond amount). This amendment modifies the specified paragraphs of the earlier circulars with immediate effect and is to be publicised by issue of a suitable public notice.
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