Commodities Buzz: Government Hikes Import Duty On Gold To 12.5% From 7.5%

1 Jul 2022 , 10:40 AM

In order to curb strain on trade deficit, the government has raised the basic import tax on gold to 12.5 per cent from 7.5 per cent. Indias Gold imports came in at Rs 46591 crores in May 2022, jumping 838% compared to May 2021. Gold imports in April-May FY23 rose by 16% compared to same period in previous fiscal. Powered by Commodity Insights