Gold Import Scheme - Gold not declared by passengers - Whether liable to absolute confiscation

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....hi Subject : Gold Import Scheme - Gold not declared by passengers - whether liable to absolute confiscation - Instructions regarding. Reference to Ministry's Instructions of even number dated 22-4-1992, on the above subject. Doubts have been raised by some of the Collectors as to whether gold can now be treated as a prohibited item, and whether the gold imported by a passenger and not de....

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.... in the restricted category. In the current EXIM Policy for AM 92-97 also, gold does not appear in the list of "prohibited items', but it figures in the "negative list" vide serial number 4 under heading "miscellaneous items", and its import is not allowed except against a licence or in accordance with a Public Notice issued in this behalf. As there is no change in the import policy of this it....