India increases the base import prices for gold and silver three days after announcing a reduction in import duties, according to NDTV. The update comes as part of government moves to adjust import levies on precious metals. NDTV reports this is the second import duty hike on gold in two months. Earlier, the government raised import levies on gold and silver to 15% last month, describing the change as a measure aimed at curbing non-essential imports. The current action revises the base import prices used for calculating duties, rather than only changing the headline duty rate. NDTV frames the sequence of policy changes as a rapid shift: a cut is followed shortly by an upward adjustment to how gold and silver imports are assessed for duty. The report does not indicate changes to the underlying stated 15% levy from last month, but highlights the government’s continued use of import duty and pricing adjustments to influence demand for precious metals.
India raises gold and silver base import prices days after previous duty cut
India increases the base import prices for gold and silver three days after announcing a reduction in import duties, according to NDTV. The update comes as part of government moves to adjust import le...
- India raises base import prices for gold and silver three days after a prior reduction.
- The move is described as the second import duty hike on gold within two months.
- Last month, the government increased gold and silver import levies to 15%.
- The government presents import measures as aimed at curbing non-essential imports.
- The changes affect how duties are calculated on gold and silver imports.
This is the second import duty hike on Gold in two months as last month the government hiked import levies on gold and silver to 15% to curb non-essential imports.
14 hours agoThis is the second import duty hike on Gold in two months as last month the government hiked import levies on gold and silver to 15% to curb non-essential imports.
14 hours ago
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