Business

India raises import duty on gold, silver jewellery findings

India is the world's second biggest consumer of gold, which is supplied almost entirely through imports.
Gold market

The Indian government has increased the import duty on gold and silver findings, used in making jewellery, and on precious metal coins to 15 percent from 11 percent, effective from January 22 to bring them in line with duties on gold and silver bars.

In a notification issued on Monday, India's Ministry of Finance also hiked the import duty on spent catalysts containing precious metals to 14.35 percent from 10.1 percent.

The move aims to prevent circumvention of the duty on gold and silver bars, a government official said, after a surge in imports in the last two months of gold findings: hooks, clasps and other components used to make jewellery.

The official was not authorised to speak with the media and requested anonymity.

India is the world's second biggest consumer of gold, which is supplied almost entirely through imports.

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India raises import duty on gold, silver jewellery findings

India is the world's second biggest consumer of gold, which is supplied almost entirely through imports.
Gold market

The Indian government has increased the import duty on gold and silver findings, used in making jewellery, and on precious metal coins to 15 percent from 11 percent, effective from January 22 to bring them in line with duties on gold and silver bars.

In a notification issued on Monday, India's Ministry of Finance also hiked the import duty on spent catalysts containing precious metals to 14.35 percent from 10.1 percent.

The move aims to prevent circumvention of the duty on gold and silver bars, a government official said, after a surge in imports in the last two months of gold findings: hooks, clasps and other components used to make jewellery.

The official was not authorised to speak with the media and requested anonymity.

India is the world's second biggest consumer of gold, which is supplied almost entirely through imports.

Comments

পদোন্নতিতে কোটা প্রসঙ্গ: সচিবালয়ে প্রশাসন ক্যাডারের কর্মকর্তাদের প্রতিবাদ

আজ রোববার বিকেলে সচিবালয়ে কয়েকশত প্রশাসন ক্যাডারের কর্মকর্তা প্রতিবাদ জানান।

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