Notification No. 172/94-Cus Dated 30-09-94
Exemption on silver including ornament form (not studded with stones) when imported in India by a passenger.-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.
4/93-Customs, dated the 8th February, 1993, the Central Government, being
satisfied that it is necessary in the public interest so to do, hereby exempts
silver, in any form including ornaments (but excluding ornaments studded with
stones or pearls), when imported into India by an eligible passenger, from so
much of the duty of customs leviable thereon which is specified in the First
Schedule to the Customs Tariff Act, 1975 (51 of 1975), as is in excess of the
amount calculated 2[at the rate of Rs. 1500
per kilogram] old1[at the rate of Rs. 1000
per kilogram] Old[at the rate of Rs. 500 per kilogram] and the whole of the
additional duty leviable thereon under section 3 of the Customs Tariff Act, 1975
(51 of 1975), subject to the following conditions, namely :-
(a) the duty at the rate specified above shall be paid in convertible foreign
currency;
(b) the quantity of such silver shall not exceed one hundred kilograms per
eligible passenger; and
(c) the silver is either carried by the eligible passenger at the time of his
arrival in India or is imported by him within fifteen days of his arrival in
India.
2. Notwithstanding anything contained in paragraph 1, the exemption under this
notification shall also apply to silver taken delivery of by an eligible
passenger from a customs bonded warehouse of the State Bank of India or the
Minerals and Metals Trading Corporation Limited, subject to the conditions (a)
and (b) of paragraph 1 and subject to further condition that such eligible
passenger files a declaration in the prescribed form before the proper officer
of customs at the time of his arrival in India declaring his intention to take
delivery of the silver from such a customs bonded warehouse and pays the duty
leviable thereon before his clearance from customs.
Explanation - For the purpose of this notification, "eligible
passenger" means a passenger of Indian origin or a passenger holding a
valid passport, issued under the Passports Act, 1967 (16 of 1967), who is coming
to India after a period of not less than six months of stay abroad; and short
visits, if any, made by the eligible passenger during the aforesaid period of
six months shall be ignored if the total duration of stay on such visits does
not exceed thirty days and such passenger has not availed of the exemption under
this notification at any time of such short visits.
3. This notification shall come into force on the 1st day of November, 1994.
1. Substituted vide Notification No. 78/2009-Cus Dated 7/7/2009
2. Substituted vide Notification No. 17/2010-Cus Dated 27/2/2010
as amended by [Notification No. 78/2009-Cus dt. 7/7/2009 and 17/2010-Cus dt. 27/2/2010.]