https://www.taxtmi.com/caselaws?id=751300 Gold coins that are not legal tender fall under CTH 7114 as articles of gold, not under CTH 7118 as coins, because the latter covers coins only where legal tender status exists or has ceased to exist. On that classification, the claimed customs exemption under Notification No. 152/2009-Customs, as amended, was available, as the goods were treated as freely importable articles of gold. The Tribunal also held that the coins were not prohibited goods merely because no Reserve Bank of India letter was produced; in the absence of any operative restrictive regulation, confiscation, penalty and duty demand could not be sustained. en-us Mon, 08 Apr 2024 00:00:00 +0530 Fri, 12 Apr 2024 18:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751300 Gold coins that are not legal tender fall under CTH 7114 as articles of gold, not under CTH 7118 as coins, because the latter covers coins only where legal tender status exists or has ceased to exist. On that classification, the claimed customs exemption under Notification No. 152/2009-Customs, as amended, was available, as the goods were treated as freely importable articles of gold. The Tribunal also held that the coins were not prohibited goods merely because no Reserve Bank of India letter was produced; in the absence of any operative restrictive regulation, confiscation, penalty and duty demand could not be sustained. Case-Laws Customs Mon, 08 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751300