4.37
- Document type
- Policy
- Dated
Advance Authorisation for Precious Metals
4.37
Advance Authorisation for Precious Metals
(a) Advance Authorisation shall be granted on pre-import basis with ‘Actual User’ condition for duty free (excluding Integrated Tax and Compensation cess leviable under Section 3(7) and 3(9) of Customs Tariff Act)import of:
(i) Gold of fineness not less than 0.995 and mountings, sockets, frames and findings of 8 carats and above;
(ii) Silver of fineness not less than 0.995 and mountings, sockets, frames and findings containing more than 50% silver by weight;
(iii) Platinum of fineness not less than 0.900 and mountings, sockets, frames and findings containing more than 50% platinum by weight.
(b) Advance Authorisation shall carry an export obligation which shall be fulfilled as per procedure indicated in Chapter 4 of Handbook of Procedures.
(c) Value Addition shall be as per paragraph 4.38 of FTP and 4.61 of Handbook of Procedures.
(d) Advance Authorisation Scheme is not available where the item of export is ‘Gold Medallions and Coins’ or ‘Gold jewellery/articles manufactured by fully mechanised process’.
(Above (d) has been added vide NOTIFICATION NO. 25/2020, DT. 10/08/2020)