GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
Anti Smuggling Unit (CBEC)

Circular No. 57/2016-Customs

Room No. 512, 5^th Floor, Hudco Vishala Building,
R.K. Puram, New Delhi.
Dated 01.12,2016

TO,

1. All Principal Chiefs Cbief Commissioners of Custoins/ Customs (P),
2. All Pi‘incipal Chief/ Chief Commissioners of Customs & Central Excise,
3. All Principal Commissioners/ Commissioners of Customs/ Customs (P),
4. All Principal Conimissioners/ Commissioneis of Customs & Central Excise,
5. Webmaster, CBEC Website

Subject:- Guidelines for the sale of seized/confiscated gold - reg.

Madam/Sir,

1. I am directed to refer to the procedure for disposal of seized/ confiscated gold prescribed vide Ministry’s letter F. No, 711/164/93-CUS (AS) dated 08.08.2005 and to state that in addition to the State Bank of India, the sale of seizcd/ confiscated gold found ripe for disposal can be routed through all Public Sector Banks (approved by RBI to import and sell gold), MMTC Ltd. and STC Ltd.
2. All the other conditions prescribed in the Ministry’s letter vide F. No. 711/164/93-CUS (AS) dated 08.08.2005 shall be followed.
3. Board desires that all Custom Houses should tale urgent steps to dispose of seized/ confiscated gold as per the guidelines above.

Yours faithfully,

(ROHIT ANAND)
Under Secretary to Govt. of India
F. No. 711/04/2011-CUS (AS)