Commerce Ministry seeks cut in gold import duty in Budget to push exports ...Middle East

The commerce ministry has sought a reduction in the import duty on gold in the forthcoming budget with a view to push exports and manufacturing of the gems and jewellery sector, sources said. In July this year, the centre hiked gold import duty to 15 per cent from 10.75 per cent to check the current account deficit (CAD) and rising import of the yellow metal. The basic customs duty on gold is 12.5 per cent. Along with the agriculture infrastructure development cess (AIDC) of 2.5 per cent, the effective gold customs duty will be 15 per cent. "As the gems and jewellery industry has recommended the commerce ministry for a cut in the duty, the commerce ministry has urged the finance ministry for

Hence then, the article about commerce ministry seeks cut in gold import duty in budget to push exports was published today ( Friday 30/12/2022 - 12:00 PM ) and is available on Business Standard ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.

Read More Details
Finally We wish PressBee provided you with enough information of ( Commerce Ministry seeks cut in gold import duty in Budget to push exports )

Also on site :

• China’s LNG Imports Rebound Late in the Year After a Prolonged Slump
• China’s EV Exports Soar by 87%
• NYSE Content Advisory: Pre-Market Update + S&P 500 To End 2025 Trade This Week, Up 18% So Far This Year