Customs Duty on Gold and Silver reduced by the CBIC

1) The Central Board of Indirect Taxes and Customs (CBIC) notified the decrease in Customs Duty on Gold and Silver.

2) The CBIC notified the reduction in the customs duty on gold from 11.85% to 6.9%.

3) The customs duty on Silver was reduced from 11.00% to 6.1%.

4) The Board amended notification no. 57/2000-Customs dated May 8, 2000, vide Notification No. 17/2021 Customs so as to align it with notification No. 50/2017-Custom dated June 30, 2017.

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