What is the Import duty of Gold, Silver, Oil and Gas in India

What is the Import duty of Gold, Silver, Oil and Gas in India.. When it was changed

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After Budget 2019

Import duty to be hiked on gold and precious metals to 12.5%, from current level of 10%.

India is one of the largest gold importers in the world, and the imports mainly take care of demand from the jewellery sector.

India imported gold worth $32.8 billion during 2018-19

Answered on 2019-08-23.
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The import duty on silver to 10 per cent from the earlier 6 per cent, and the factory gate duty on gold bars to 9 per cent from 7 per cent.

Gold is second biggest imported item after crude oil

India imports oil as a Crude oil.. The Crude oil rate is 5 to 10 percent

Answered on 2019-08-23.
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Gold and Silver as a Jewelry – 15-20%

 

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