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of <h1>Customs Clarifies: Undeclared Gold Faces Absolute Confiscation; Declared Gold May Be Re-exported with Conditions.</h1> The circular from the Central Board of Excise & Customs addresses the issue of undeclared gold carried by passengers and its liability to absolute confiscation. It clarifies that although gold is not listed as a 'prohibited item' in the EXIM Policy 1992-97, it is included in the 'negative list' and requires a license for import. The Board maintains that undeclared gold should be subject to absolute confiscation without redemption options, except in trivial cases without concealment. Declared gold, unable to clear due to insufficient foreign exchange, may be re-exported under certain conditions. Officers are instructed to adhere to these guidelines.
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