Gold, Silver Rate Today Live Updates: Gold and silver prices in the domestic market are expected to remain range-bound after the g...
Gold, Silver Rate Today Live Updates: Gold and silver prices in the domestic market are expected to remain range-bound after the government’s move to hike import duties from 6% to 15% in a bid to discourage imports of gold to preserve forex reserves for more pressing needs such as crude oil.
A day after sharply raising import duties on precious metals, the government on Thursday capped gold imports under the Advance Authorisation scheme at 100 kilograms. The scheme enables jewellery exporters to bring in raw materials and inputs without paying import duty.
Authorities have also tightened the rules governing the issuance and supervision of Advance Authorisations for gold imports. Previously, there was no upper limit on the quantity of gold that could be imported through this route.
A day after sharply raising import duties on precious metals, the government on Thursday capped gold imports under the Advance Authorisation scheme at 100 kilograms. The scheme enables jewellery exporters to bring in raw materials and inputs without paying import duty.
Authorities have also tightened the rules governing the issuance and supervision of Advance Authorisations for gold imports. Previously, there was no upper limit on the quantity of gold that could be imported through this route.