Exemption of import duty on import of gold by RBI

The Central Government issued Notification no. 14/2024-Customs dated 12.03.2024 to exempt gold falling under Customs Tariff heading 7108 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India by Reserve Bank of India, from the whole of the duty of customs leviable thereon as specified in the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) and from the whole of Agriculture Infrastructure and Development Cess, leaviable under Section 124 of the Finance Act, 2021 (13 of 2021).