New Delhi:
The Centre has increased the import duty levied on gold, silver, and other precious metals to 10 per cent. According to the notifications issued on Tuesday by the Finance Ministry, the revised rates will come into effect from today (May 13),ย with the higher levy applicable to gold, silver, platinum, jewellery findings, and precious metal-related industrial imports.
This comes two days after Prime Minister Narendra Modi urged people to avoid purchasing gold for one year in an effort, as the country’s foreign exchange reserves have come under strain due to the West Asia conflict.
The story is being updated.