Procedure to be followed by nominated agencies importing gold/ silver/ platinum under the scheme for ‘Export Against Supply by Nominated Agencies’-reg.

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....Deptt. of Revenue 8th Floor, Tower-2, LIC, Jeevan Bharti Building Connaught Place, New Delhi -110001 Tel: 23722439, Fax: 23722443 e-mail: [email protected] Dated: 23rd July, 2018 To, All Principal Chief Commissioners/ Chief Commissioners of Customs All Principal Chief Commissioners(Prev.)/ Chief Commissioners of Customs (Prev.) Subject: Procedure to be followed by nomin....

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....ed that problems are being faced in the field as one to one correlation between the gold procured duty free under Notification No. 57/2000-Customs dated 08.05.2000 and corresponding export of jewellery is being insisted upon by the Customs. GJEPC has represented that it was impossible to establish one to one correlation between such procurement and jewellery manufactured and exported out of the sa....

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....olicy nor the said notification and aforementioned circulars refer to the requirement of a one to one correlation between the gold procured and the jewellery exported. The construct of Foreign Trade Policy read with Customs notification clearly provides that the nominated agency must establish that imported duty free gold/ silver/ platinum has been exported through the manufacture of gold/silver/p....