F.No. 711/4/2011-Cus (AS)
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise & Customs
Room No. 512, 5th Floor, Hudco Vishala Building,
R. K. Puram, New Delhi, dated 1 1thJanuary 2018
(i) All Principal Chief/ Chief Commissioners of Customs/ Customs (Preventive),
(ii) All Principal Chief/ Chief Commissioners of Customs & Central Excise/Central Tax,
(iii) All Principal Commissioners/ Commissioners of Customs/ Customs (Preventive),
(iv) All Principal Commissioners/Commissioners of Customs & Central Excise/Central Tax,
(v) Webmaster, CBEC Website.
Subject: Guidelines for the sale of seized / confiscated gold – reg.
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 Board’s Circular No. 57/2016-Customs dated 01.12.2016.
2. In this context, I am directed to state that in addition to the centre(s), viz, Mumbai, New Delhi, Calcutta, Chennai, Ahmedabad, Jaipur, Cochin, Bangalore and Shillong, the sale of seized / confiscated gold found ripe for disposal can be done at all the centres of State Bank of India, all Public Sector Banks (approved by RBI to import and sell gold), MMTC Ltd. and STC Ltd which also have authorisation from their competent authorities / head offices to dispose/sell the seized/confiscated gold handed over to them.
3. 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.
4. Board desires that all Custom Houses should take urgent steps to dispose of seized / confiscated gold as per the guidelines above.
Under Secretary to the Government of India