In the wake of falling global prices of precious metals, the Government has further slashed the import tariff value of gold and silver to $432 per 10 grams and $736 per kg, respectively.
Tariff value is the base price at which the customs duty is determined to prevent under-invoicing.Till last week, the tariff value of gold was at $458 per 10 grams and silver at $783 per kg. The notification in this regard has been issued by the Central Board of Excise and Customs (CBEC).