Import procedures for nominated agencies: bonded storage, exporter bonds and bank guarantees secure duty exempt supply to jewellery exporters. Procedures govern import, custody and duty exempt supply of precious metals by the Nominated Agency to jewellery exporters: agencies may hold imports in private bonded warehouses or bank vaults; exporters procure metal via ex bond Bills of Entry after executing prescribed bonds secured by a bank guarantee; the Nominated Agency must maintain records, effect deliveries, and notify customs of outstanding exports; customs must monitor stocks; failure to fulfil export obligations triggers recovery of duty, encashment of guarantees and further enforcement.
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Provisions expressly mentioned in the judgment/order text.
Import procedures for nominated agencies: bonded storage, exporter bonds and bank guarantees secure duty exempt supply to jewellery exporters.
Procedures govern import, custody and duty exempt supply of precious metals by the Nominated Agency to jewellery exporters: agencies may hold imports in private bonded warehouses or bank vaults; exporters procure metal via ex bond Bills of Entry after executing prescribed bonds secured by a bank guarantee; the Nominated Agency must maintain records, effect deliveries, and notify customs of outstanding exports; customs must monitor stocks; failure to fulfil export obligations triggers recovery of duty, encashment of guarantees and further enforcement.
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