| Date: |
27-06-1995
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| Notification No: |
Customs Circular No 74/1995
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| Issuing Authority: |
Indian Customs
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| Type: |
Circular
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| File No: |
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| Subject: |
Clarification regarding improbability of gold/ silver coins under Gold/ Silver Imports Scheme
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|
Clarification regarding improbability of gold/ silver coins under Gold/
Silver Imports Scheme
Circular No. 74 dated 27th June
1995
The undersigned
is directed to refer to Ministry's letter of even number dated 31st August,
1994, on the above subject, and to say that the Department of Economic Affairs
have now informed that they have re-examined the matter in consultation
with the Reserve Bank of India. It has been informed by the Reserve Bank of
India that there would be no restriction under FERA on import of foreign coins
(whether current or non-current) made of gold or any other metal. The same holds
good in respect of commemorative coins also.
2. In
view of the present clarification given by the Reserve Bank of India, Ministry's
earlier instructions vide letter of even number dated 31st August, 1994 stand
modified and the eligible passengers may be allowed to import gold/silver in any
form, including coin (whether current, non- current or commemorative) but
excluding jewellery studded with stones or pearls subject to fulfilment of other
conditions mentioned in the Notification Nos. 171/ 94-Cus. or 172/94-Cus. both
dated 30.9.94, as the case may be.
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