Import tariff value on gold, silver cut

Govt slashed the import tariff value of gold to $385 per 10 grams

The government on Monday slashed the import tariff value of gold to $385 per 10 grams, an official statement said here.

The import tariff on silver has also been reduced to $544 per kilogram on Monday.

Till last fortnight, the tariff value on imported gold was $398 per 10 grams and on silver at $567 per kg.

The import tariff value is the base price at which customs duty is determined to prevent under-invoicing and is revised every fortnight.