Import tariff on gold hiked to $ 459/10 grams
The government has raised the import tariff value of gold to USD 459 per 10 grams, while it has been slashed at USD 737 per kg for silver imports to check the volatility in the global bullion market.
Tariff value is the base price on which the customs duty is determined to prevent under-invoicing.
Last month, the tariff value of gold was at USD 440 per 10 grams and silver at USD 761 per kg.
The notification in this regard has been issued by the Central Board of Excise and Customs (CBEC).