Gold - Customs Duty Enhanced
GOVERNMENT has amended Notification No. 12/2012-Cus dated 17.03.2012 to enhance the rate of duty of imported gold.
1. The Additional Duty on Gold Ores and Concentrates for use in the manufacture of Gold is increased from 2% to 4%.
2. The Additional Duty on Gold dore bar, having gold content not exceeding 95% is increased from 2% to 4%.
3. The Standard Rate of duty for Gold bars, other than tola bars, bearing manufacturer's or refiner's engraved serial number and weight expressed in metric units, and gold coins having gold content not below 99.5%, imported by the eligible passenger, is increased from 4% to 6%.
4. The Standard Rate of duty for Gold bars, other than tola bars, bearing manufacturer's or refiner's engraved serial number and weight expressed in metric units, and gold coins having gold content not below 99.5%, and gold findings, other than imports of such goods through post, courier or baggage, is increased from 4% to 6%.
5. The Standard Rate of duty for platinum, is increased from 4% to 6%.
Notification No. , Dated: January 21, 2013