Seeks to further amend notification No. 12/2012-Customs dated 17th March, 2012, so as to withdraw CVD exemption on gold coins having gold content not below 99.5%, and gold findings.

GOVERNMENT OF INDIA

MINISTRY OF FINANCE

(DEPARTMENT OF REVENUE)

Notification No. 59/2016 – Customs

New Delhi, the 1st December, 2016

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 amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 12/2012-Customs, dated the 17th March, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 185 (E), dated the 17th March, 2012, namely:-

In the said notification, in the Table, for serial number 323 and the entries relating thereto, the following serial number and entries, shall be substituted, namely:-

(1)

(2)

(3)

(4)

(5)

(6)

“323 71 (i) Gold bars, other than tola bars, bearing manufacturer’s or refiner’s engraved serial number and weight expressed in metric units;

(ii) Gold coins having gold content not below 99.5% and gold findings,

other than imports of such goods through post, courier or baggage.

Explanation. – For the purposes of this entry, “gold findings” means a small component such as hook, clasp, clamp, pin, catch, screw back used to hold the whole or a part of a piece of jewellery in place.”.

10%

 

10%

Nil

 

 

[F. No. 354/122/2016 –TRU]

(Anurag Sehgal)

Under Secretary to the Government of India

Note:– The principal notification No. 12/2012-Customs, dated the 17th March, 2012 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 185(E), dated the 17th March, 2012 and was last amended by notification No. 58/2016-Customs, dated the 5th October, 2016, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R 956(E), dated the 5th October, 2016.

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