Mr. Sachin Kothari, Director at Augmont Gold for All
In January 2024, the Indian government raised the import duty on gold and silver coins and findings from 11% to 15%. This comprises a 10% Basic Customs Duty and a 5% Agriculture Infrastructure Development Cess.
The fundamental goal was to standardize tax rates and hence avoid observed circumvention. This action was done to close a gap and bring duty on gold finds and coins in line with total customs duty rates on gold bars. This will eliminate trade sections that take advantage of duty arbitrage.
Heera Zhaveraat (HZ International) A Diamond, Watch and Jewellery Trade Promotion Magazine provide dealers and manufactures with the key analytical information they need to succeed in the luxury industry. Pricing, availability and market information in the Magazine provides a critical edge.
