Wastage norms for jewellery: authorised percentage losses and mint conversion procedure now specified under customs exemption. The amendment deletes condition (v); allows gold scrap, dust or sweepings to be sent to the Government Mint for conversion into standard gold bars and return under Commissioner specified procedure; empowers the Assistant Commissioner of Customs to allow specified percentage losses of gold or silver during jewellery manufacture according to the Table linked to jewellery description and value addition bands; clarifies mountings/findings wastage admissibility and application of gold norms to platinum; and substitutes serial No. 11 description to 'Office equipments, spares and consumables thereof.'
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Wastage norms for jewellery: authorised percentage losses and mint conversion procedure now specified under customs exemption.
The amendment deletes condition (v); allows gold scrap, dust or sweepings to be sent to the Government Mint for conversion into standard gold bars and return under Commissioner specified procedure; empowers the Assistant Commissioner of Customs to allow specified percentage losses of gold or silver during jewellery manufacture according to the Table linked to jewellery description and value addition bands; clarifies mountings/findings wastage admissibility and application of gold norms to platinum; and substitutes serial No. 11 description to "Office equipments, spares and consumables thereof."
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