Centre more than doubles gold, silver import duty to 15% to cool record bullion bill
Government has hiked import duty on gold and silver from 6% to 15% and platinum from 6.4% to 15.4%, while closing the UAE CEPA arbitrage by lifting concessional duty to 14%. The move targets a $83bn FY26 precious-metals import bill, with gold imports up 24% and silver up 150% as bullion hit $4,700/oz.
Centre hikes gold and silver import duty from 6% to 15% and platinum to 15.4%, also closing UAE CEPA arbitrage, aiming to curb retail and investment demand and trim a $83bn precious-metals import bill straining the current account.