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Amended Procedures for Import of precious metal Scrap to India

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by - 11/5/2008 13701 Views

Division 4A.34

Division 4A.34- regarding the import of precious Metal Scrap to India was amended earlier this year. The Amended EXIM procedure states that:

“Imported precious metal scrap / used jewelry shall be allowed to be cleared by Customs subject to the following conditions:
a) That importer files a bond along with Bank Guarantee for a sum equivalent to one and half      times customs duty leviable on said used jewelry /precious metal scrap;
b) Importer fulfils the export obligation and value addition as notified by Central Government;
c) Such import will not be allowed through Hand Baggage. Detailed procedure including value addition requirement and export obligation etc. for operationalization of the facility under this paragraph shall be notified separately by DGFT (Director General of foreign trade)”

Category : General

Tags : General scrap, metal scrap

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import procedure for metal scrap

sir can you please help me the import procedure for metal scrap.