Notification: Exemption for Inter-State Supply of Gold
Objective: Exempts inter-state gold supply by Nominated Agency for "Export Against Supply" scheme.
Scope: Applies to gold falling under heading 7108 of Customs Tariff Act, 1975.
Conditions:
Comply with Foreign Trade Policy and Handbook of Procedures.
Recipient must export jewelry made from gold within 90 days.
Provide shipping bill details within 120 days to Nominated Agency.
Penalty: Nominated Agency pays integrated tax with interest if export proof not provided within stipulated time.
Definitions: Clarifies terms like "Foreign Trade Policy" and "Nominated Agency".
Effective Date: Commences on 1st January 2019.
Issued By: Gunjan Kumar Verma, Under Secretary to the Government of India.