← the bulletins

TIOL-DDT 31 · Thursday, 13 January 2005 · story 3 of 4

Old is Gold, says CBEC

By Vijay Kumar

Notification No 62/2004 fixes the rate of duty for imported gold and silver. Sl. No 1 of the table reads as follows:-

1.

Gold bars, other than tola bars, bearing Manufacturer’s or refiner’s engraved serial number and weight expressed in metric units, and old coins

Rs. 100 per 10 gms.

Now the Government wants old coins to be read as gold coins

CBEC’s corrigendum dated 7.1.2005