Millennium Post

Govt cuts import tariff value of gold to $458/10 gm

The government on Monday reduced the import tariff value of gold to USD 458 per 10 grams due to fall in its global prices.

It also cut the import tariff value of silver to USD 783 per kg.

Earlier, tariff value – the base price on which the customs duty is determined to prevent under-invoicing – of gold and silver stood at USD 461 per 10 grams and USD 803 per kg, respectively.

The Central Board of Excise and Customs today issued the notification after gold prices extended losses for the fourth straight day today. The prices of yellow metal have touched the all time high of Rs 34,500 per 10 grams last week in the national capital.

Prices of Gold on Monday fell and closed at Rs 31,100 per 10 grams.
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