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of <h1>New Customs Regulations for Gold and Silver Import by Passengers under Customs Act, 1962: Bill of Entry Process Explained</h1> The Central Board of Excise and Customs issued regulations under the Customs Act, 1962, for the import of gold and silver by passengers. Effective from November 1, 1994, these regulations outline the required form for a Bill of Entry to be used by passengers for ex-bond clearance of gold or silver from customs bonded warehouses in India. The process involves multiple parts, including completion by the passenger, verification by the Air Customs Officer, duty payment at a bank, customs clearance, and delivery by the warehouse keeper. The document also includes provisions for audit and verification of duty recovery.
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