Govt raises duty on gold, silver; hopes to get Rs 4,830 cr

"The customs duty on standard gold and platinum (increased) from 8 per cent to 10 per cent and on silver from 6 per cent to 10 per cent", said a notification issued by the Finance Ministry.u00a0

The government has also raised the duty on gold ore/ concentrates/dore bars and silver dore bars ranging from 7 per cent to 10 per cent.

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"The revenue implications of these changes are estimated at Rs 4830 crore for the remaining part of the financial year at current levels of import", the Ministry said.
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