Precious metal imports duty free cannot be warehoused; nominated agencies must post bonds, guarantees, and monitor exporter proof of export. Precious metals imported duty free by nominated agencies under notification 57/2000-Cus cannot be warehoused under Chapter IX and must be cleared on bill of entry for home consumption; transitional ex-bond filing and continued storage in existing vaults are permitted. Nominated agencies must execute bonds and furnish a 25% bank guarantee (subject to specified exemptions), maintain accounts, submit monthly exporter-wise returns, and deposit duty where exporters fail to produce proof of export within the FTP period. Exporters must register, undertake to export within FTP timelines, and provide export documentation and bank realization certificates.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Precious metal imports duty free cannot be warehoused; nominated agencies must post bonds, guarantees, and monitor exporter proof of export.
Precious metals imported duty free by nominated agencies under notification 57/2000-Cus cannot be warehoused under Chapter IX and must be cleared on bill of entry for home consumption; transitional ex-bond filing and continued storage in existing vaults are permitted. Nominated agencies must execute bonds and furnish a 25% bank guarantee (subject to specified exemptions), maintain accounts, submit monthly exporter-wise returns, and deposit duty where exporters fail to produce proof of export within the FTP period. Exporters must register, undertake to export within FTP timelines, and provide export documentation and bank realization certificates.
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