Change in tariff value for silver & gold
Updated: May 02, 2014 02:06:32pm
New Delhi, May 2 (KNN) New tariff rates for determining the import or export duties on different items has been notified and for gold it has been fixed at USD 422 per 10 gram.
The tariff value for silver has been fixed at USD 632 per kilogram.
The new tariff values for different items have been announced by the Central Board of Excise and Customs (CBEC).
The CBEC keeps changing these values frequently depending on the international prices. These values determine the basis for imposition of different duties like customs.
At present the import duty on gold is 10 per cent. India’s country's total gold and silver imports dropped 40 per cent to USD 33.46 billion in 2013-14, as against USD 55.79 billion in the previous year. (KNN/SD)
The tariff value for silver has been fixed at USD 632 per kilogram.
The new tariff values for different items have been announced by the Central Board of Excise and Customs (CBEC).
The CBEC keeps changing these values frequently depending on the international prices. These values determine the basis for imposition of different duties like customs.
At present the import duty on gold is 10 per cent. India’s country's total gold and silver imports dropped 40 per cent to USD 33.46 billion in 2013-14, as against USD 55.79 billion in the previous year. (KNN/SD)
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