Disposal of seized gold: bank agent sale using market based pricing with taxes paid from proceeds and customs assurance. Sale of seized/confiscated gold shall be routed through the State Bank of India as consignee agents at major centres; Customs will deliver gold in marketable form or convert it to the prescribed purity and provide Assaying Certificates, remaining responsible for fineness. Pricing will be based on the previous day's closing market price from three national economic dailies using the Annexure I methodology, with the Bank accepting no commission but deducting permitted out of pocket expenses, paying applicable sales tax/octroi from proceeds, and depositing net sale proceeds to the designated Customs account.
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Provisions expressly mentioned in the judgment/order text.
Disposal of seized gold: bank agent sale using market based pricing with taxes paid from proceeds and customs assurance.
Sale of seized/confiscated gold shall be routed through the State Bank of India as consignee agents at major centres; Customs will deliver gold in marketable form or convert it to the prescribed purity and provide Assaying Certificates, remaining responsible for fineness. Pricing will be based on the previous day's closing market price from three national economic dailies using the Annexure I methodology, with the Bank accepting no commission but deducting permitted out of pocket expenses, paying applicable sales tax/octroi from proceeds, and depositing net sale proceeds to the designated Customs account.
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