Budget 2021: Finance Minister Nirmala Sitharaman announced that the custom duty on gold and silver will be rationalised to bring them closer to previous levels. The move will reduce the prices of the precious metals.
indian airport customs duty for gold 2020
Gold News Today – Bullion Industry Expects Reduction in Import Duty on Gold
The bullion industry expects the government to announce significant reduction in import duty on gold in the upcoming Budget 2020. It must be noted that gold imports are curren jewellery industry tly levied customs duty of 12.5% and an additional 3% as GST.