Gold and Silver Jewellery Drawback Rates Hiked for Price

[Customs Notification No. 46 (Non Tariff) dated 24^th May 2012]

In exercise of the powers conferred by sub-sections (2) and (3) of section 75 of the Customs Act, 1962 (52 of 1962), sub-sections (2) and (2A) of section 37 of the Central Excise Act, 1944 (1 of 1944), and section 93A read with sub-sections (2) and (3) of section 94 of the Finance Act, 1994 (32 of 1994), read with rules 3, 4 and 5 of the Customs, Central Excise Duties and Service Tax Drawback Rules, 1995, the Central Government, hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.68/2011-Customs(N.T.), dated the 22^nd September, 2011 published vide number G.S.R. 712 (E) dated the 22^nd September, 2011, namely:-

In the said notification, in the Schedule, in Chapter 71, for tariff items falling under heading 7113 and the entries relating thereto, the following tariff items and entries shall be substituted, namely :-

“711301	Articles of jewellery and parts thereof made of gold	Gms.	Rs.100.70 per gram of net gold content (.995 or more purity) in the jewellery	Rs.100.70 per gram of net gold content (.995 or more purity) in the jewellery
711302	Articles of jewellery and parts thereof made of silver	Kg.	Rs. 2590.80 per Kg of net silver content (.999 purity) in the jewellery	Rs.2590.80 per Kg of net silver content (.999 purity) in the jewellery
711399	Others		Nil	Nil	”