GSTnews item17 August 2015
Customs tariff value for gold hiked to Rs. 363/10 grams, silver to Rs. 499 a kg
News Update
Customs tariff value for gold hiked to Rs. 363/10 grams, silver to Rs. 499 a kg
The Finance Ministry has hiked the customs tariff value for gold and silver imports.While the tariff value for gold has gone up to Rs. 363 per 10 gram from Rs. 354 per 10 gram, the tariff value for silver has been increased to Rs. 499 a kg from Rs. 477 a kg earlier. Tariff value is the base price at which customs duty is levied.The move comes at a time when gold imports in value terms increased 62 per cent in July. In volume terms, gold imports in July were estimated to be about 75 tonnes, much higher than 57 tonnes in June. Even in August, the volume of gold imports is expected to be about 75 tonnes.
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