GJC urges Centre to revisit gold-silver taxation and customs duty hike ahead of festive season
The All India Gem & Jewellery Domestic Council has asked the Centre to reconsider taxation and customs duty hikes on bullion, warning that higher duties fuel unofficial trade and dent retail demand. Gold peaked at ₹170,480 per 10g in January before cooling to ₹142,800 in late June, pressuring affordability ahead of the H2 wedding and festive season.
GJC urges Centre to reconsider taxation and customs duty hikes on gold/silver, warning higher duties encourage unofficial trade and hurt jewellery retail demand. Festive and wedding season expected to support demand despite affordability pressures and volatile bullion prices.
Why this matters
GJC's appeal lands as gold prices swing sharply, falling from ₹170,480 to ₹142,800 per 10g, raising concerns over demand and grey-market trade ahead of the key H2 festive and wedding season.
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Also reported by
- The Hindu BusinessLine — Same time