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Import tariff value of gold & silver slashed
Posted on: 03/Feb/2014 4:56:02 PM
The central government has reduced the import tariff value on gold and silver to $404 per ten grams and $635 per kg, respectively, taking into account the volatility in the global prices.
Till Sunday, the tariff value on imported gold was at $407 per ten gram while on silver it stood at $663 per kg.
Import tariff value is the base price at which customs duty is determined to prevent under invoicing. The tariff value is revised on a fortnightly basis after analyzing the global prices trend.
The notification in this regard has been issued by the Central Board of Excise and Customs (CBEC),official release said on Monday.
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