WebFeb 24, 2024 · a) Basic Customs Duty (BCD) on gold bars and gold doré is reduced to 7.5% and 6.9% from the previous level of 12.5% and 11.85%, respectively b) To improve agricultural infrastructure, an additional Agriculture and Infrastructure Cess (AIDC) is levied on several items, including gold bars and gold doré, at a rate of 2.5%. 4 WebJul 22, 2024 · After a hike in customs duty by India along with additional duty for agriculture infrastructure development, the price of gold in India will increase, which officials say could lead to growth in smuggling via Nepal. On Thursday, the price of hallmark gold per 10 grams stood at Rs79735, according to the Federation of Nepal Gold and Silver ...
Will govt trim import duty on gold this budget? Key factors to expect
WebJul 5, 2024 · The increase in import duty of gold from 10 per cent -12.5 per cent announced in the Union Budget on Friday will make gold dearer in the domestic market. Gold traders … WebJan 15, 2024 · With effect from July 1, 2024, gold import duty is increased by 5% to 12.5% from 7.5%. However, the total levies on gold are around over 18% taking into … lithium carbonate over the counter
Govt hikes import duty on gold to 12.5% from 10%
WebApr 18, 2024 · The demand for gold would further increase on account of forthcoming auspicious Akshaya Tritiya and marriage season which could increase the CAD. ... The government in the Budget reduced the import duty on the yellow metal from 12.5 per cent to 10 per cent (7.5 per cent customs duty plus 2.5 per cent Agriculture Infrastructure and … WebAn increase in import duty will lead to a fall in the import of gold. This will control the demand and hence there is decline in the demand for foreign exchange. Assuming other things remain constant, a decline in the demand for … WebIndia has hiked import duty on gold to 15% from 10.75% as surge in gold imports was putting pressure on the current account deficit (CAD), the Finance Ministry said on Friday. … lithium carbonate price per ton 2021