Customs exemption for imported gold and silver under export schemes requires export of equivalent metal and execution of a bond. Silver and gold under Headings 71.06 and 71.08 are exempt from customs and additional duty when imported for specified export schemes; where the foreign buyer supplies the metal the importer must execute a bond undertaking to export jewellery or articles containing metal equivalent to the imported quantity within the contractual or extended period and to pay duty on any 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.
Customs exemption for imported gold and silver under export schemes requires export of equivalent metal and execution of a bond.
Silver and gold under Headings 71.06 and 71.08 are exempt from customs and additional duty when imported for specified export schemes; where the foreign buyer supplies the metal the importer must execute a bond undertaking to export jewellery or articles containing metal equivalent to the imported quantity within the contractual or extended period and to pay duty on any shortfall.
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