Concessional import duty on gold, silver, and platinum has been increased from 4.35% to 10% under recent customs notifications.
Import Duty on Gold, Silver & Platinum Raised to 10%
The Ministry of Finance has officially increased the concessional import duty on gold, silver, and platinum from 4.35% to 10% through Notification 57/2000-Customs, effective May 13, 2026. This substantial hike aims to regulate imports more stringently.
This change in import duty levels indicates the government's stance on commodities trade, aiming to control the volume and value of precious metal imports, which could have broad economic implications.
Legal counsel must promptly inform clients regarding this increase and assist them in navigating the complexities of this updated duty regime to maintain compliance and strategic planning in their operations.
Citations
- Concessional Duty Case (2026) CBIC
