Notification No. 138/1999, Dated 30th Dec 1999

NOTIFICATION
NO. 138/99-Cus., dated 30-12-1999

Exemption to gold and silver produced out of copper anode slime which were exported out of India for toll smelting or toll processing. — 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 gold and silver falling within Chapter 71 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) and produced out of copper anode slime, the said copper anode slime being exported out of India for toll smelting or toll processing, when imported into India, from so much of duty of customs leviable thereon which is specified in the said First Schedule, as is in excess of the duty which would be leviable if the value of the said goods were equal to the aggregate of -

            (i) the toll smelting or toll processing costs, as the case may be, that is to say, - 
                    (a) labour charges, 
                    (b) cost of material (other than the cost of the goods exported out of India) used in such toll smelting or toll processing, and

                    (c) any other charges which are payable in connection with the toll smelting or toll processing abroad; and

            (ii) the insurance and freight charges both ways, subject to the following conditions, namely :-

                    (a) the gold or silver, as the case may be, are imported within one year of the date of export of copper anode slime out of India; and

                    (b) sufficient evidence exists to show that the gold or silver, as the case may be, which are imported have in fact been obtained out of toll smelting or toll processing of the copper anode slime exported out of India.

                            Notification No. 138/99-Cus., dated 30-12-1999