https://www.taxtmi.com/circulars?id=1663 State Bank of India will act as consignee agent for sale of seized/confiscated gold delivered by Customs in marketable form or converted to .999/.995 purity at major centres. Sale price is based on the previous day's closing market price reported in three national economic dailies and calculated per Annexure I; Customs accepts the Bank's computation. The Bank will deduct specified out of pocket expenses, pay taxes from proceeds, remit sale proceeds to the Commissioner's designated account, and handle physical receipt against acknowledgment while Customs provides assaying certificates and remains responsible for declared fineness. en-us Mon, 08 Aug 2005 00:00:00 +0530 Sat, 28 Feb 2009 12:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=1663 State Bank of India will act as consignee agent for sale of seized/confiscated gold delivered by Customs in marketable form or converted to .999/.995 purity at major centres. Sale price is based on the previous day's closing market price reported in three national economic dailies and calculated per Annexure I; Customs accepts the Bank's computation. The Bank will deduct specified out of pocket expenses, pay taxes from proceeds, remit sale proceeds to the Commissioner's designated account, and handle physical receipt against acknowledgment while Customs provides assaying certificates and remains responsible for declared fineness. Circulars Customs Mon, 08 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/circulars?id=1663