CBIC exempts import of Gold & Silver & their dore under Export promotion schemes from AIDC

Last updated: 19 February 2021

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The Central Board of Indirect Taxes and Customs (CBIC) has issued a notification exempting the import of gold, silver, and their dore from the Agriculture and Infrastructure Development Cess (AIDC). This exemption applies specifically when these precious metals are imported under various export promotion schemes. The amendment modifies an existing customs notification from February 1, 2021.

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) New Delhi, NOTIFICATION No. 18/2021 Customs Dated: 17th February, 2021 G.S.R. 117(E). - Inexercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) rea

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FAQ :

Imports of Gold, Silver, and their dore are exempted from AIDC.

The exemption is applicable when gold, silver, and dore are imported under Export Promotion Schemes.

The Central Board of Indirect Taxes and Customs (CBIC), under the Ministry of Finance, issued this notification.

This notification is dated 17th February, 2021.

No, this exemption specifically applies to imports made under Export Promotion Schemes.

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Notification No : 18/2021 – Customs
Published in Custom
Source : https://www.cbic.gov.in/resources//htdocs-cbec/customs/cs-act/notifications/notfns-2021/cs-tarr2021/cs18-2021.pdf

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