Gold Import Duty: The Finance Ministry has taken a big decision on gold and silver even before the budget. The Finance Ministry has increased the import duty on gold and silver to 15 percent. Apart from this, custom duty has also been increased on coins of precious metals.
How much has the duty on import of gold and silver increased
Gold- Duty on import of silver has been increased to 15 percent which will include 10 percent Basic Custom Duty (BCD) and 5 percent Agriculture Infrastructure Development Cess (AIDC). However, there has been no increase in the Social Welfare Cess (SWS) imposed on it and this increase will not be applicable on it.
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