https://www.taxtmi.com/circulars?id=3112 Conversion of exported precious metals for entitlement calculations uses a formula converting carat or declared fineness into equivalent quantities at prescribed standard fineness levels for gold, silver and platinum. Exporters may obtain metal from nominated agencies on outright purchase or loan only upon furnishing a Bank Guarantee, which the agencies shall enforce if exports are not effected in the prescribed period. Bonafide defaults may be regularised on payment of customs duty with interest, while advance licence cases follow existing handbook provisions. en-us Fri, 25 Jul 1997 00:00:00 +0530 Mon, 17 Dec 2007 16:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=3112 Conversion of exported precious metals for entitlement calculations uses a formula converting carat or declared fineness into equivalent quantities at prescribed standard fineness levels for gold, silver and platinum. Exporters may obtain metal from nominated agencies on outright purchase or loan only upon furnishing a Bank Guarantee, which the agencies shall enforce if exports are not effected in the prescribed period. Bonafide defaults may be regularised on payment of customs duty with interest, while advance licence cases follow existing handbook provisions. Circulars DGFT Fri, 25 Jul 1997 00:00:00 +0530 https://www.taxtmi.com/circulars?id=3112