Silver import duty increased from 10.75% to 15%

New Delhi, Feb 1 (GoldSilverReports) – India raised total taxes on silver imports 15% and on silver dore to 14.35%, the government said in a statement on Wednesday, in an effort to align the duty structure of the metal with gold.

The south Asian country is the world’s biggest importer of silver.

“I also propose to increase the import duty on silver dore, bars and articles to align them with that on gold and platinum,” Finance Minister Nirmala Sitharaman said as she presented the 2023/24 budget in parliament.

चांदी की इंपोर्ट ड्यूटी 10.75% से बढ़कर 15% कर दी गई (Silver import duty increased from 10.75% to 15%)

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— Gold Silver Reports (@goldsilverrepor) February 1, 2023