• Govt ups gold base import price to $411/10 gm from $396/10 gm.
• Govt ups silver base import price to $538/kg from $518/kg.
The government today increased the base import price of gold by $15 to $411 per 10 gm and that of silver by $20 to $538 a kg, according to a notice from the Central Board of Excise and Customs. Base import prices were last revised on Jul 14.Typically revised every fortnight, base import prices are used to
Calculate duty on gold and silver brought into the country by individuals who often do not carry purchase invoices. Since Jul 14, prices of gold and silver in global markets have increased 3.4% and 5.8%, respectively. Currently, India levies 10% import duty on gold.
Source : newswire
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