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of <h1>Concessional Duty Rates Expanded for Gold and Silver Imports; Excludes Jewelry and Foreign Currency Coins, Effective May 2004.</h1> Notification No. 62/2004-Cus., dated May 12, 2004, allows the import of certain gold and silver items at a concessional duty rate. This initiative follows a policy change from January 2004, which permitted the import of gold and silver without an import license. Previously, concessional rates were limited to specific agencies authorized by the Reserve Bank of India. The new notification extends these rates to all importers, excluding imports via post, courier, or baggage. The items covered include all gold and silver under Chapter 71, except jewelry and foreign currency coins. Public notices are advised for trade awareness.
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