Silver imported by or on behalf of the State Bank of India [Heading No. 71.06] - 031/87 - Customs -Tariff

Silver imported by or on behalf of the State Bank of India [Heading No. 71.06] Notification No. 31/87-Cus. Dated 28-1-1987 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 exempts silver falling under Heading No. 71.06 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) when imported into India by or on behalf of the State Bank of India, constituted under the State Bank of India Act, 1955 (23 of 1955), for being sold as replenishment for the silver used in jewellery or articles exported out of India, under the Scheme of Export Promotion and Replenishment for Silver jewellery and Silver Articles notified by the Government of India in the Ministry of Commerce in the Public Notice No. 135-ITC(PN)/85-88, dated the 8th December, 1986 as Annexure VII to Appendix 22 of Volume I of the Import and Export Policy for April, 1985 - March, 1988, from the whole of the duty of Customs leviable thereon, which is specified in the said First Schedule.