Import bond requirement for gold and precious metals: exporter must export equivalent metal content within ninety days or pay duty. Amendment requires importers of gold, silver or platinum under the Export Against Supply by Nominated Agencies scheme to execute a bond in form and for a sum specified by the Assistant Commissioner or Deputy Commissioner of Customs, undertaking to export jewellery or articles with equivalent metal content within ninety days from issue, and to pay on demand duty for any shortfall between issued quantity and metal content contained in the exported goods.
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.
Import bond requirement for gold and precious metals: exporter must export equivalent metal content within ninety days or pay duty.
Amendment requires importers of gold, silver or platinum under the Export Against Supply by Nominated Agencies scheme to execute a bond in form and for a sum specified by the Assistant Commissioner or Deputy Commissioner of Customs, undertaking to export jewellery or articles with equivalent metal content within ninety days from issue, and to pay on demand duty for any shortfall between issued quantity and metal content contained in the exported goods.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
