Government of IndiaMinistry of Finance Budget 97-98




Customs Notification

No.18/97

   
NOTIFICATION                New Delhi, dated the 1st March, 1997
No. 18/97 - CUSTOMS                     10 Phalguna, 1918 (Saka)
     
   
G.S.R.      (E). -  In exercise of the powers conferred
by  sub-section (1) of section 25 of the  Customs  Act,
1962  (52  of  1962),  the  Central  Government,  being
satisfied  that it is necessary in the public  interest
so  to do, hereby makes the following further amendment
in  the notification of the Government of India in  the
Ministry  of Finance (Department of Revenue) No.182/92-
Customs, dated the 6th May, 1992, namely :-
   
      In the said notification for the portion begining
with  the words "subject to the conditions" and  ending
with  the words "jewellery or articles.", the following
shall be substituted, namely :-
     
          "subject to the condition that in the case of
          the  said  Schemes, the importer  executes  a
          bond in such form and for such sum as may  be
          specified  by  the Assistant Commissioner  of
          Customs,  undertaking himself to export  gold
          jewellery  or  articles, having gold  content
          equivalent  to  the imported  gold  including
          gold  findings,  mountings or solders  within
          the   period  stipulated,  or  such  extended
          period  as  the  Assistant  Commissioner   of
          Customs  on sufficient cause being shown  may
          allow,  and binding himself to pay on  demand
          duty  on a quantity of gold representing  the
          difference between the quantity imported  and
          that  contained in the exported jewellery  or
          articles.".
 
  
 
                                       (RAJIV TALWAR)
                        UNDER SECRETARY TO THE GOVERMENT OF INDIA

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