In exercise of the powers conferred by section 11(1) of the CGST ACT, 2017

Gold supplied by Nominated Agency wholly exempted from CGST with conditions

Central Government, on being satisfied that it is necessary in the public interest so to do

exempts the intra-State supply of [1][gold, silver or platinum] falling in [2][Chapter 71] of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when supplied by Nominated Agency under the scheme for "Export Against Supply by Nominated Agency" as referred to in [3][paragraph 4.40] paragraph 4.41 of the Foreign Trade Policy, read with relevant provisions of Chapter 4 of Handbook of Procedures, to a registered person (herein referred to as “recipient”),

from the whole of the central tax leviable thereon, u/s 9, subject to following conditions, namely:-

(i) the Nominated Agency and the recipient shall follow the conditions and observe the procedures as specified in the Foreign Trade Policy read with Handbook of Procedures;

(ii) the recipient shall export the jewellery made out of such [4][gold, silver or platinum] within a period of 90 (ninety) days from the date of supply of [5][gold, silver or platinum] to such recipient and shall provide copy of shipping bill or bill of export containing details of Goods and Services Tax Identification Number (GSTIN) alongwith the invoice for exports to the Nominated Agency within a period of 120 (one hundred and twenty) days from the date of supply by the Nominated Agency;

(iii) wherever such proof of export is not produced within the period mentioned in condition (ii), the Nominated Agency shall pay the amount of central tax payable on the quantity of [6][gold, silver or platinum] not exported, along with interest from the date when the said tax on such supply was payable, but for the exemption.