Gold including ornaments - Effective rate of duty

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..... (1) of section 25 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 117/92-Customs, dated the 1st March, 1992, the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempt gold, in any form including ornaments (but excluding ornaments studde .....

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..... . 2. Notwithstanding anything contained in paragraph 1, the exemption under this notification shall also apply to gold taken delivery of by an eligible passenger from a customs bonded warehouse of the State Bank of India or the Minerals and Metals Trading Corporation Limited, subject to the conditions (a) and (b) of paragraph 1 and subject to further condition that such eligible passenger files .....

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