Office Address
123/A, Miranda City Likaoli Prikano, Dope
Phone Number
+0989 7876 9865 9
+(090) 8765 86543 85
Email Address
info@example.com
example.mail@hum.com
123/A, Miranda City Likaoli Prikano, Dope
+0989 7876 9865 9
+(090) 8765 86543 85
info@example.com
example.mail@hum.com
Finance ministry has raised
import duties on gold to 15 per cent from 10 per cent. The higher tariffs, which took effect on January 22nd, are aimed at
curbing the surge in imports of the yellow metal.
Gold imports spiked to 7.2 billion US dollars in October,
causing the merchandise trade deficit to rise to an all-time high monthly
figure of 31.46 billion US dollars. Though imports of the metal moderated in November, there was again a 156
per cent increase to 3.03 billion US dollars in December on a low base.
In July last year, India had banned imports of certain gold jewellery, in
the wake of sudden rise in duty-free imports of these items from Indonesia,
under the India-Asean free trade agreement (FTA).
The latest set of measures
also includes a similar hike in import duties on silver findings and coins of precious metals. The new 15
per cent duty includes a 10 per cent basic customs duty (BCD) and an additional
5 per cent under the all-industry duty drawback (AIDC), with an exemption from the
social welfare surcharge (SWS).
