Customs Duty on share certificates imported for sale or dematerialisation

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..... tion I am directed to refer to the subject mentioned above and to say that a representation has been received from the Stock Exchange, Mumbai stating that the Customs authorities are insisting on payment of Customs duty when shares held by NRIs abroad are re-imported for sale or dematerialization. It has been stated that presently the NRIs are allowed to invest in India shares and hold .....

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..... oods of Indian origin, when they are re-imported into India. This is,. of course, subject to fulfillment of certain conditions as specified in the said notification. 3. The basic principle underlining the notification is that as long a no export benefits were claimed at the time of export on any goods, they can be re-imported without payment of customs duty; The exemption under the notifica .....

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