Oh dear Gold and Silver are dearer Customs Duty Restructuring for Gold, Silver and Precious Metals

The notifications collectively increase customs duties on several categories of gold, silver and precious metal imports from 5% to 10%, including bullion, dore bars, jewellery imports and findings. 

The amendments also revise cess-linked concessional rates, tighten concessional import routes under Notification No. 57/2000-Customs, and introduce a specific framework for imports of spent catalyst and ash containing precious metals under heading 7112, subject to prescribed conditions.

The revised framework is expected to increase landed costs for bullion importers, refiners and jewellery manufacturers while supporting regulated recycling and recovery activities within the precious metals sector.