Gold import tariff value hiked to $396 per 10 gm
The government on tuesday raised import tariff value on gold to $396 per 10 grams and on silver to $561 per kg in line with volatile global price trends. The tariff value on imported gold was at $388 per 10 grams and silver at $540 per kg in the first fortnight of the current month. The import tariff value is the base price at which customs duty is determined to prevent under-invoicing. It is revised on a fortnightly basis taking into account global prices. The increase in tariff value on imported gold has been notified by the Central Board of Excise and Customs.