CBIC issued clarification on new procedure of disposal of Seized Gold: Instruction
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- By Chetan Kulasri
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- Last Updated on 8 September, 2022
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Instruction No. 22/2022-Customs dated September 6th, 2022
The CBIC has issued instruction to provide clarification on various issues relating to new procedure of disposal of Seized or Confiscated Gold. In this newly issued instruction, the CBIC has provided the manner of determination of amount of sale proceeds of gold while refunding amount in lieu of gold already disposed, prescribing quarterly cycle for disposal of gold etc.
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