No concessional rate benefit on import of rectangular shape gold bars as serial numbers not engraved

HDFC Bank Ltd Vs Commissioner of Customs (CESTAT Hyderabad)

CESTAT Hyderabad held that benefit of concessional rate vide notification no. 62/2004-Cus dated 12.05.2004 is denied on import of rectangular shape gold bars as manufacturers or refiners serial numbers not found engraved on the gold bars.

Facts- The appellant is a banking company. It regularly imports gold of various forms, including gold coins, for further sale, through various ports. Import of gold coins attracts a concessional rate of duty at Rs.100/- per 10 gm under Notification No.62/2004 dt.12

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