CBIC amend the Notification regarding exemption to gold, silver and platinum imported under specified schemes

Nov 30, 2018 | by Avantis RegTech Legal Research Team


The Central Board of Indirect Taxes and Customs (CBIC) on November 29, 2018 has amended the notification No. 57/2000-Customs dated May 08, 2000 regarding exemption to gold, silver and platinum imported under specified schemes.

In the Notification, after the second proviso, the following proviso shall be inserted, namely:

"Provided further that no replenishment of the gold or silver shall be available to the exporter where the exporter avails, in respect of exported product:

(i)                  Cenvat credit on inputs under the Central Excise Act,1944; or

(ii)                Input tax credit on inputs or services or both under Chapter V of the Central Goods and Services Tax Act, 2017; or

(iii)               Refund of input tax credit or refund of integrated tax under section 54 of the Central Goods and Services Tax Act, 2017.”

[Notification No. 78/2018-Customs]

URL: http://www.cbic.gov.in/resources//htdocs-cbec/customs/cs-act/notifications/notfns-2018/cs-tarr2018/cs78-2018.pdf;jsessionid=95312C6583F435F3EDA30A009C7EF01C


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