Gold imported under the scheme for export of gold jewellery - Amendment to Notification No. 182/92-Cus. - 18/97 - Customs -Tariff

Gold imported under the scheme for export of gold jewellery - Amendment to Notification No. 182/92-Cus. Notification No. 18/97-Cus. Dated 1-3-1997 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 beginning 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.".