Gold import consignment scheme lets passengers file a declaration as a bill of entry and pay duty at arrival for delivery. The proposed Scheme permits SBI/MMTC to import gold on consignment and store it in private bonded warehouses outside customs areas at specified airports or branch offices. Arriving passengers file a gold declaration treated as a bill of entry; the Proper Officer will verify eligibility, assess duty, and the passenger pays duty at an SBI counter. Two endorsed copies of the declaration/bill of entry enable the passenger to collect gold from SBI/MMTC delivery points after verification and payment. SBI/MMTC may be granted private bonded warehouse licences subject to security and location requirements.
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Gold import consignment scheme lets passengers file a declaration as a bill of entry and pay duty at arrival for delivery.
The proposed Scheme permits SBI/MMTC to import gold on consignment and store it in private bonded warehouses outside customs areas at specified airports or branch offices. Arriving passengers file a gold declaration treated as a bill of entry; the Proper Officer will verify eligibility, assess duty, and the passenger pays duty at an SBI counter. Two endorsed copies of the declaration/bill of entry enable the passenger to collect gold from SBI/MMTC delivery points after verification and payment. SBI/MMTC may be granted private bonded warehouse licences subject to security and location requirements.
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