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of <h1>India Exempts Gold and Silver from Certain Customs Duties Under Notification No. 117/94-Cus for Special Import Licence Holders</h1> The Central Government of India has issued Notification No. 117/94-Cus dated April 27, 1994, under the Customs Act, 1962, to exempt gold and silver from certain customs duties when imported into India. These exemptions apply to goods specified in Chapter 71 of the Customs Tariff Act, 1975, provided they are imported under a Special Import Licence as per the Export and Import Policy from April 1, 1992, to March 31, 1997. The customs duty rates are set at Rs. 220 per 10 grams for gold and Rs. 500 per kilogram for silver, payable in convertible foreign currency.
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