Notification No. 57/2000-Cus Dated 08-05-2000
Exemption on silver, gold and platinum imported as replenishment under the Scheme for Export through Exhibitions/Export Promotion Tours/Export of Branded Jewellery.-
In exercise of the powers conferred by sub-section
(1) of section 25 of the Customs Act, 1962, (52 of 1962), and in supersession of
the notification of the Government of India in the Ministry of Finance
(Department of Revenue), No. 144/93-Cus, dated the 28th June, 1993 [G.S.R.
480(E) dated the 28th June, 1993] except as respects things done or omitted to
be done before such supersession, the Central Government, being satisfied that
it is necessary in the public interest so to do, hereby exempts silver, gold and
platinum, falling under heading Nos. 71.06, 71.08 and 7 1. 10 respectively of
the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported
into India, -
(a) as replenishment under the Scheme for 'Export through Exhibitions / Export
Promotion Tours / Export of Branded Jewellery' as referred to in 2[paragraph
4A.14] Old1[Paragraph
4A.15] Old[paragraph
4.4.9] of the Foreign Trade Policy, read with relevant provisions of chapter
4 of the Handbook of Procedures, Volume I, or
(In clause(a) bold words has been substituted vide CUS NTF NOS. 64/2002
DATE 24/06/2002 and 87/2004-Cus dt 6-9-2004)
(b) under the Scheme for 'Export Against Supply by Nominated Agencies' as
referred to in 1[Paragraph 4A.9] Old[Paragraph 4.4.10] of the Foreign Trade Policy, read with
relevant provisions of Chapter 4 of the Handbook of Procedures, Volume-I,
from the whole of the duty of customs leviable thereon, which is specified in
the said First Schedule, and from the whole of the additional duty leviable
thereon under section 3 of the said Customs Tariff Act:
(In clause (b) bold words has been substituted vide CUS NTF NO.64/2002 DATE
24/06/2002)
Provided that in the case of import of gold / silver / platinum as
replenishment under the scheme for 'Export through Exhibitions / Export
Promotion Tours / Export of Branded Jewellery', the importer undertakes to
fulfil the conditions of Foreign Trade Policy and relevant provisions of the
Handbook of Procedures, Volume-1 and produces such documents as stipulated in
the Foreign Trade Policy and the Handbook of Procedures, Volume-I and produces
such proof of exports made through exhibitions / export promotion tours etc. as
may be required by the Assistant Commissioner of Customs or the Deputy
Commissioner of Customs to satisfy himself with regard to eligibility of the
importer for the duty free import of replenishment material :
Provided further that in the case of import of gold / silver / platinum
under the scheme for 'Export Against Supply by Nominated Agencies', the importer
executes a bond in such form and for such sum as may be specified by the
Assistant Commissioner of Customs or Deputy Commissioner of Customs undertaking
to export, either by itself or through other exporters gold / silver / platinum
jewellery or articles, as the case may be, including studded articles having
gold / silver / platinum content equivalent to the imported gold / silver /
platinum within a period of 120 days from the date of issue of gold / silver /
platinum to the exporters, or such extended period as the Assistant Commissioner
of Customs or Deputy Commissioner of Customs, on sufficient cause being shown
may allow, and binding himself to pay on demand duty on quantity of gold /
silver / platinum representing the difference between the quantity issued and
that contained in the exported jewellery or articles
3[Provided also that the nominated agencies (except for those authorized by RBI) shall follow the procedure and fulfill the conditions as specified in the Policy circular No. 77 (RE-2008)/2004-09 dated 31st March,.2009 as amended from time to time, issued by Director General of Foreign Trade.]
Explanation - for the purpose of this notification, -
2[(a) �Foreign Trade Policy� means
Foreign Trade Policy, 2009 - 2014, notified by the Government of India in the
Ministry of Commerce and Industry published in the Gazette of India,
Extraordinary, Part-II, Section 3, Sub section (ii) vide notification No.
1/2009-2014, dated the 27th August, 2009, as amended from time to time.]
Old[(a) �Foreign Trade Policy� means the Foreign Trade Policy, 1st September, 2004-31st March, 2009 published by the Government of India in the Ministry of Commerce and Industry vide notification No. 1/2004-09, dated the 31st August, 2004, as amended from time to time;]
2[(b) �Handbook of Procedures (Volume-I)� means Handbook of Procedures (Volume-I) notified by the Government of India in the Ministry of Commerce and Industry published in the Gazette of India, Extraordinary, Part-I, Section-1 vide Public Notice No. 1/2009-2014, dated the 27th August, 2009, as amended from time to time.]
Old[ (b) "Handbook of Procedures, Volume-I" means the Handbook of Procedures, Volume-I, published vide Public Notice No. 1/2004-09, dated the 31st August, 2004, as amended from time to time.]
(Clause (a) & (b) of explanation have been substituted vide CUS NTF
NO.87/2004 DATE 6/09/2004)
2[(c)
�Nominated agencies� means,-
(1) Metals and Minerals Trading Corporation Limited (MMTC);
(2) Handicraft and Handloom Export Corporation (HHEC);
(3) State Trading Corporation (STC);
(4) Project and Equipment Corporation of India Ltd. (PEC);
(5) STCL Ltd;
(6) MSTC Ltd;
(7) Diamond India Limited (DIL);
(8) Gems & Jewellery Export Promotion Council (G&J EPC);
(9) a Star Trading House (only for Gems and Jewellery sector) or a Premier Trading House under paragraph 3.10.2 of Foreign Trade Policy; and
(10) any other agency authorised by Reserve Bank
of India (RBI).]
Old[
(c) "Nominated Agencies" means the Metals and Minerals Trading
Corporation Limited (MMTC), the Handicraft and Handloom Export Corporation (HHEC),
the State Trading Corporation (STC), the Project and Equipment Corporation of
India Ltd. (PEC) and any agency authorised by the Reserve Bank of India (RBI).
1. Substituted vide Notification No. 84/2007-Cus Dated 6/7/2007
2. Substituted vide Notification No. 106/2009-Cus Dated 14/9/2009
3. Inserted vide Notification No. 106/2009-Cus Dated 14/9/2009
as amended by [Notification Nos. 64/2002-Cus dt 24-6-2002, 87/2004-Cus dt 6-9-2004 , 84/2007-Cus dt. 6/7/2007 and 106/2009-Cus dt. 14/9/2009.]