Export bond requirement compels exporters importing precious metal for export schemes to guarantee export performance or face duty on shortfall. Importers under the specified export promotion schemes must execute a bond, in form and sum as specified by the Assistant Collector of Customs, undertaking to export jewellery or articles containing gold or silver equivalent to the imported quantity within the prescribed period, subject to permitted extension; failure to match quantities triggers a demand for customs duty on the shortfall.
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.
Export bond requirement compels exporters importing precious metal for export schemes to guarantee export performance or face duty on shortfall.
Importers under the specified export promotion schemes must execute a bond, in form and sum as specified by the Assistant Collector of Customs, undertaking to export jewellery or articles containing gold or silver equivalent to the imported quantity within the prescribed period, subject to permitted extension; failure to match quantities triggers a demand for customs duty on the shortfall.
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