Wednesday, August 14, 2013

Import Duty on gold, silver hiked to 10%

The Union Government increased  the import duty on gold and platinum from eight per cent to 10 per cent, that on silver was raised by four percentage points to 10 per cent.

Important points 

This import hike,  will bring in an additional revenue of Rs. 4,830 crore.

It is part of ongoing measures aimed at containing the widening current account deficit (CAD)

It is the third time that the government has hiked the customs duty on gold this year

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