https://www.taxtmi.com/highlights?id=73799 Smuggling - Absolute confiscation of the seized gold of foreign marking - Since the conditions for import of gold as per the notification issued by DGFT and the restrictions imposed by RBI have been violated, the gold in question has to be treated as ‘prohibited goods’ under Section 2(33). Consequently, it would fall within the definition of ‘smuggling ‘ under Section 2(39) which will render such goods liable to confiscation under Section 111 or Section 113 of the Act. - AT en-us Wed, 27 Dec 2023 14:45:01 +0530 Wed, 27 Dec 2023 14:45:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=73799 Smuggling - Absolute confiscation of the seized gold of foreign marking - Since the conditions for import of gold as per the notification issued by DGFT and the restrictions imposed by RBI have been violated, the gold in question has to be treated as ‘prohibited goods’ under Section 2(33). Consequently, it would fall within the definition of ‘smuggling ‘ under Section 2(39) which will render such goods liable to confiscation under Section 111 or Section 113 of the Act. - AT Highlights Customs Wed, 27 Dec 2023 14:45:01 +0530 https://www.taxtmi.com/highlights?id=73799