Notification No. 49 dated 23^rd May 1997 (As amended notification no. by 69/98-Customs dated 15^th September 1998)

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962(52 of 1962), read with sub-section (4) of the section 68 of the Finance (No.2) Act, 1996 (33 of 1996) and in supersession to the Government of India, Ministry of Finance, Department of Revenue notification No. 182/92-Customs dated the 6^th May, 1992, the Central Government being satisfied that it is necessary in the public interest so to do, hereby exempts gold off fineness not less than 0.995 and falling under heading number 71.08 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the Customs Tariff Act), Platinum and silver falling under Chapter 71 of the Customs Tariff Act and gold findings,  mountings or solders up to  0.920 fineness falling under Chapter 71 of the Customs Tariff Act, when imported into India under the Scheme F as specified in paragraph 88 of the Export and Import Policy, 1^st April, 1992-31^st March, 1997 notified by the Government of India in the Ministry of Commerce, vide Public Notice No. 1 ITC(PN)/1992-97, dated the 31^st  March, 1992, or under paragraph 8.37 of the Export and Import Policy 1^st April 1997�31^st March 2002 notified by the Government of India in the Ministry of Commerce vide notification No. 1/1997-2002 dated the 31^st March, 1997, as the case may be; from the whole of the duty of Customs leviable thereon which is specified in the First Schedule to the Customs Tariff Act and the whole of the special duty of Customs leviable under section 68 of the Finance (No.2) Act 1996, (33 of 1996).