https://www.taxtmi.com/circulars?id=1308 Seized and confiscated gold ripe for disposal shall be routed through the State Bank of India as consignee agent; Customs will deliver gold in marketable form or converted to .999/.995 purity with Assaying Certificates, and the Bank will determine sale timing and venue, price the gold per the enclosed methodology (converting international prices, adding premiums, duties and local taxes, and deducting Bank expenses) to arrive at net payable to Customs; the Bank will not levy commission, will pay applicable taxes from proceeds, remit net proceeds to designated Customs accounts, and return counterfeit items to the Commissioner. en-us Fri, 09 Mar 2001 00:00:00 +0530 Thu, 11 Jun 2009 09:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=1308 Seized and confiscated gold ripe for disposal shall be routed through the State Bank of India as consignee agent; Customs will deliver gold in marketable form or converted to .999/.995 purity with Assaying Certificates, and the Bank will determine sale timing and venue, price the gold per the enclosed methodology (converting international prices, adding premiums, duties and local taxes, and deducting Bank expenses) to arrive at net payable to Customs; the Bank will not levy commission, will pay applicable taxes from proceeds, remit net proceeds to designated Customs accounts, and return counterfeit items to the Commissioner. Circulars Customs Fri, 09 Mar 2001 00:00:00 +0530 https://www.taxtmi.com/circulars?id=1308